The project team reviews identified risks and the risk response strategy. For one of the risks, the team realizes that the implementation of the risk response would generate another risk. This new risk is which of the following types of risk?
A. Secondary
B. Primary
C. Residual
D. Tertiary
The project manager decides to conduct a meeting with the team and management after a new risk has been identified. After the meeting, the decision is to allow the risk to occur. This is an example of which type of risk response strategy?
A. Mitigate
B. Accept
C. Avoid
D. Transfer
What should a project manager do with low-priority risks?
A. Ignore low-priority risks
B. Monitor periodically with other low-priority risks
C. Create a mitigation plan for the low-priority risks
D. Increase the contingency reserve
Which of the following is a technique for Identify Risks?
A. Risk categorization
B. SWOT analysis
C. Risk register categorization
D. Risk probability and impact assessment
Which analysis uses beta and triangular distributions as a tool and technique?
A. Quantitative risk analysis
B. Qualitative risk analysis
C. Perform quality assurance
D. Perform quality control
An Ishikawa or fishbone diagram is used for which of the following?
A. Identifying causes of risks
B. Identifying frequency of occurrence of risks
C. Developing a resource plan
D. Developing schedule
Which of the following is a strategy for positive risks?
A. Avoid
B. Transfer
C. Accept
D. Mitigate
What is risk tolerance?
A. Ability to manage risks
B. Willingness to accept varying degrees of risks
C. Ability to mitigate risks
D. Willingness to develop a risk management plan
Expected Monetary Value (EMV) analysis is commonly used in:
A. probability distribution.
B. decision tree diagram.
C. sensitivity analysis.
D. modeling and simulation.
Reserve analysis is a tool and technique used in which of the following processes?
A. Monitor and Control Risks
B. Qualitative Risk Analysis
C. Quantitative Risk Analysis
D. Plan Risk Responses
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