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Project Management - Pre-Quiz Ch 11
Multiple Choice
Identify the choice that best completes the statement or answers the question.
____ 1. Utility rises at a decreasing rate for a(n) ____ person.
a. risk-seeking c. risk-neutral
b. risk-averse d. risk-indifferent
____ 2. Those who are ____ have a higher tolerance for risk, and their satisfaction increases when more payoff is at
stake.
a. risk-seeking c. risk-neutral
b. risk-averse d. risk-indifferent
____ 3. ____ involves determining which risks are likely to affect a project and documenting the characteristics of
each.
a. Risk identification c. Qualitative risk analysis
b. Risk management planning d. Quantitative risk analysis
____ 4. ____ involves prioritizing risks based on their probability and impact of occurrence.
a. Qualitative risk analysis c. Risk response planning
b. Risk management planning d. Quantitative risk analysis
____ 5. ____ involves taking steps to enhance opportunities and reduce threats to meeting project objectives.
a. Quantitative risk analysis c. Risk monitoring and control
b. Risk response planning d. Qualitative risk analysis
____ 6. ____ are predefined actions that the project team will take if an identified risk event occurs.
a. Fallback plans c. Contingency plans
b. Contingency reserves d. Contingency allowances
____ 7. According to the Standish Group’s Information Technology Success Potential Scoring Sheet, ____ has the
highest relative importance.
a. executive management support c. proper planning
b. clear statement of requirements d. user involvement
____ 8. “If the information technology project is to produce a new product or service, will it be useful to the
organization or marketable to others?” Which risk category does this question apply to?
a. Financial risk c. Structure/process risk
b. Technology risk d. Market risk
____ 9. “Will the project meet NPV, ROI, and payback estimates?” Which risk category does this question apply to?
a. Financial risk c. Structure/process risk
b. Technology risk d. Market risk
____ 10. “Is there a project champion?” Which risk category does this question apply to?
a. Financial risk c. Structure/process risk
b. Technology risk d. People risk
____ 11. In a risk breakdown structure, competitors, suppliers, and cash flow fall under the ____ risk category.
a. business c. organizational
b. technical d. project management
____ 12. Poor conflict management, poor project organization and definition of responsibilities, and absence of
leadership are risk conditions associated with which project management knowledge area?
a. Integration c. Time
b. Quality d. Human Resources
____ 13. ____ is a fact-finding technique for collecting information in face-to-face, phone, e-mail, or instant-messaging
discussions.
a. Brainstorming c. The Delphi Technique
b. SWOT analysis d. Interviewing
____ 14. A project manager can chart the probability and impact of risks on a(n) ____.
a. risk ranking chart c. probability/impact matrix
b. risk probability table d. risk assessment matrix
____ 15. ____ are/is a qualitative risk analysis tool, and in addition to identifying risks, it maintains an awareness of
risks throughout the life of a project.
a. Risk factor analysis c. Risk registering
b. Probability/impact matrices or charts d. Top Ten Risk Item Tracking
____ 16. ____ involves eliminating a specific threat, usually by eliminating its causes.
a. Risk avoidance c. Risk transference
b. Risk acceptance d. Risk mitigation
____ 17. ____ involves shifting the consequence of a risk and responsibility for its management to a third party.
a. Risk avoidance c. Risk transference
b. Risk acceptance d. Risk mitigation
____ 18. ____ involves reducing the impact of a risk event by reducing the probability of its occurrence.
a. Risk avoidance c. Risk transference
b. Risk acceptance d. Risk mitigation
Essay
19. List and describe four methods for identifying risks.
20. What are the four basic response strategies for negative risks? Describe each strategy.
Project Management - Pre-Quiz Ch 11
Answer Section
MULTIPLE CHOICE
1. ANS: B PTS: 1 REF: 428
2. ANS: A PTS: 1 REF: 428
3. ANS: A PTS: 1 REF: 429
4. ANS: A PTS: 1 REF: 429
5. ANS: B PTS: 1 REF: 430
6. ANS: C PTS: 1 REF: 431
7. ANS: D PTS: 1 REF: 432
8. ANS: D PTS: 1 REF: 433
9. ANS: A PTS: 1 REF: 433
10. ANS: D PTS: 1 REF: 433
11. ANS: A PTS: 1 REF: 434
12. ANS: D PTS: 1 REF: 435
13. ANS: D PTS: 1 REF: 437
14. ANS: C PTS: 1 REF: 441
15. ANS: D PTS: 1 REF: 445
16. ANS: A PTS: 1 REF: 453
17. ANS: C PTS: 1 REF: 453
18. ANS: D PTS: 1 REF: 453
