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PMP Chapter 11
| Question | Answer |
|---|---|
| Risk acceptance as a response technique is appropriate when the (BLANK) of the risk event is equal or greater than the (BLANK) should the risk event occur. | Cost & Cost |
| (BLANK) is an effort to reduce the probability and/or impact of an identified risk. | Mitigation |
| A manufacturing project which has a plan to reduce the number of units produced should the equipment reach a certain temperature that would increase errors is called (BLANK) | Thresholding |
| (BLANK) also known as risk tolerance, is an organization or an individual's willingness to accept risk. | Utility Function |
| Risk planning should always occur when the (BLANK) is changed. | Scope |
| The (BLANK) is a project plan component that contains all of the information related to the risk management activities. | Risk Register |
| These risks have only a negative outcome like, fire theft or natural disaster. They are also known as insurable risks. | Pure Risks |
| These risks can have both positive and negative outcomes. An example would be foregoing expensive formal training for on-the-job education. They are also known as speculative risks. | Business Risks |
| A project risk is an (BLANK) occurrence that can affect the project for good or bad. | uncertain |
| (BLANK) is an iterative process and should occur throughout the project life cycle. | Risk identification |
| The goal of (BLANK) is an anonymous method of querying experts to build consensus on project risks. | The Delphi Technique |
| True or False - When risk analysis is begun Quantitative is done prior to Qualitative. | False |
| The Probability-Impact matrix is an example of Qualitative or Quantitative Analysis? | Qualitative |
| A table of risks, their probability, impact and a number representing an overall risk score is called (BLANK) | Probability-Impact matrix |
| EMV is an acronym that stands for (BLANK) | Expected monetary value |
| The formula for EMV is (BLANK) | Cost of Risk * Percentage the Risk will Occur |
| (BLANK) is the process of shifting the ownership of risk to a third party. An example would be purchasing of insurance. | Transference of Negative Risk |
| (BLANK) is a technique where simulations are completed with multiple variables to determine their impacts and predict the most likely model. | Monte Carlo Technique |
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lapetti
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