Session 6 Quiz

Session 6 Quiz

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Question 1 of 10

1. Question
Murphy’s law states:
- Do unto others as they'd do unto you
- Anything that can go wrong, will go wrong
- Hope for the best, plan for the worst
- None of the above
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Question 2 of 10

2. Question
Risks become Issues after a Trigger occurs
- True
- False
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Question 3 of 10

3. Question
Typical sources of project risk are
- Unknown stakeholders
- Lack of organizational commitment
- Project team capability
- Fuzzy scope / requirements
- Poor estimates / underestimating
- All of the above
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Question 4 of 10

4. Question
Some examples of Quantitative Risk Analysis are:
- Mean, Median, Mode
- Three-point estimates
- Expected value
- Monte Carlo Analysis
- Regression / ANOVAs
- All of the above
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Question 5 of 10

5. Question
Prioritizing Risk is best done by:
- Probability of the risk * The Risk's Impact
- Cost of the Risk * The Time to fix
- Number of people involved * Number of emails sent
- The type of Issue * The Cost
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Question 6 of 10

6. Question
The degree, amount, or volume of risk that an organization or individual will withstand is known as:
- Risk Tolerance
- Risk Appetite
- Risk Threshold
- Any of the above
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Question 7 of 10

7. Question
Different people/organizations elements have varying degrees of risk tolerance.
- True
- False
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Question 8 of 10

8. Question
If a Risk is rated as HIGH – that means
- You must abandon the project
- You must act immediately
- You must notify the project sponsor
- You must recalculate the budget for the project
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Question 9 of 10

9. Question
There are two types of Reserves discussed with Risk Management and they are
- Output and Outcome
- Contingency and Management
- Identified and Unidentified
- Proactive and Reactive
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Question 10 of 10

10. Question
You can alter the Risk Profile threshold based upon the unique needs of your organization
- True
- False
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