Flashcards
Chapter 11: Project Risk Management
Cards in this deck (13)
- 1Risk utility rises at a decreasing rate for a _____ person. a. risk-seeking b. risk-averse c. risk-neutral d. risk-indifferentb. risk-averse
- 2Those who are _____ have a higher tolerance for risk, and their satisfaction increases when more payoff is at stake. a. risk-seeking b. risk-averse c. risk-neutral d. risk-indifferenta. risk-seeking
- 3A _____ person achieves a balance between risk and payoff. a. risk-seeking b. risk-averse c. risk-fearing d. risk-neutrald. risk-neutral
- 4_____ involves deciding how to approach and plan the risk management activities for the project. a. Identifying risks b. Planning risk management c. Performing qualitative risk analysis d. Performing quantitative risk analysisb. Planning risk management
- 5The degree of uncertainty an entity is willing to take on in anticipation of a reward is a. risk appetite b. risk tolerance c. risk utility d. unknown riska. risk appetite
- 6_____ involves determining which risks are likely to affect a project and documenting the characteristics of each. a. Identifying risks b. Planning risk management c. Performing qualitative risk analysis d. Performing quantitative risk analysisa. Identifying risks
- 7_____ involves prioritizing risks based on their probability and impact of occurrence. a. Performing qualitative risk analysis b. Identifying risks c. Planning risk responses d. Performing quantitative risk analysisa. Performing qualitative risk analysis
- 8_____ involves numerically estimating the effects of risks on project objectives. a. Performing qualitative risk analysis b. Planning risk responses c. Identifying risks d. Performing quantitative risk analysisd. Performing quantitative risk analysis
- 9_____ involves taking steps to enhance opportunities and reduce threats to meeting project objectives. a. Performing quantitative risk analysis b. Planning risk responses c. Controlling risk d. Performing qualitative risk analysisb. Planning risk responses
- 10_____ involves monitoring identified and residual risks, identifying new risks, carrying out risk response plans, and evaluating the effectiveness of risk strategies throughout the life of the project. a. Performing quantitative risk analysis b. Planning risk responses c. Controlling risk d. Performing qualitative risk analysisc. Controlling risk
- 11____ are predefined actions that the project team will take if an identified risk event occurs. a. Secondary risks b. Workarounds c. Contingency plans d. Management reservesc. Contingency plans
- 12Unenforceable conditions or contract clauses and adversarial relations are risk conditions associated with the project _____ management knowledge area. a. integration b. quality c. procurement d. human resourcesc. procurement
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- CIS 4375 Flashcards on Chapter 11: Project Risk Management, created by Technology Technology on 04/10/2018.
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