PMP Quiz

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Author:
flemingsy
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67699
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PMP Quiz
Updated:
2011-02-20 19:42:18
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Risk Quiz
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Questions from Bootcamp Manual
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  1. Plan Risk Management, Identify Risk, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, and Plan Risk Responses are developed in what phase?
    Planning
  2. Project Scope Statement
    Cost Management Plan
    Schedule Management Plan
    Communications Management Plan
    Are Inputs to what Process in Project Risk Management?
    Plan Risk Management
  3. What is the Output for Plan Risk Management?
    Risk Management Plan
  4. What are the Tools and Techniques for Plan Risk Management?
    Planning Meetings and Analysis
  5. What step follows Plan Risk Management?
    Identify Risks
  6. Risk Breakdown Structure (RBS) and Risk Probabilities and Impact Rating Matrix are two examples of document that can be created within what?
    Risk Management Plan
  7. What can a PM use to help breakdown the risks on a project?
    Risk Breakdown Structure (RBS)
  8. The Risk Breakdown Structure (RBS) is typically used to do what?
    Identify Risks
  9. The Probabilities and Impact Matrix is used to do what?
    Perform Qualitative Risk Analysis
  10. The Risk Probabilities and Impact Rating Matrix can be used to do what?
    Evaluate risks for their probability and impact
  11. A component of risk that deals with the amount of information known (or unknown) about the outcome
    Uncertainty
  12. This is a risk in which insurance can be purchased
    Pure Risk
  13. This risk is typically uninsurable
    Business Risk
  14. Risk-Averse, Risk Seeker, and Risk-Neutral are types of what?
    Risk Tolerance
  15. This risk is defined as a mentality of risk avoidance?
    Risk-Averse
  16. This risk is defined as a mentality of looking for risk or worse case, not being afraid of it?
    Risk Seeker
  17. This risk is defined as a middle ground mentality toward risk?
    Risk-Neutral
  18. Risk Management Plan, Activity Cost Estimates, Activity Duration Estimates, Scope Baseline, Stakeholder Register, Cost Management Plan, Schedule Management Plan, and Quality Management Plan are Inputs to what Process in Project Risk Managment?
    Identify Risks
  19. These Tools and Techniques are used in what process: Documentation Reviews, Info gathering techniques, checklist analysis, assumptions analysis, diagramming techniques, SWOT analysis, and expert judgement?
    Identify Risks
  20. What is the Output for Identify Risks?
    Risk Register
  21. What step follows Identify Risks?
    Perform Qualitative Risk Analysis
  22. What are the Five steps in Project Risk Management under the Planning Process?
    Plan Risk Management, Identify Risk, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, and Plan Risk Responses
  23. The risk management plan is known as the ___________ for risk as it relates to this project
    Rulebook
  24. In the "Identify Risks" step, under tools and techniques; why are documentation reviews done?
    To identify and evaluate potential risks and triggers
  25. Other than Documentation Review; what other tool and technique can be used to identify potential risks?
    Information Gathering Techniques (a T & T for identify risk)
  26. Why are Checklist Analysis (a T & T for identify risk) useful?
    For verification that things are done as planned
  27. What type of analysis assists in determining potential risk exposure ( a T & T for identify risk)
    Assumptions Analysis
  28. Diagramming Techniques (T & T for identify risk) are used to see what?
    where risk could occur within a process
  29. This analysis is done to perform a review of the project environment to see what_______, _______, ______, & _____ may occur
    Strengths, Weaknesses, and Opportunities, and Threats (SWOT)
  30. This Output to Identify Risks, contains information about what risks could occur on a project, potential responses, root causes, and risk categorization
    Risk Register
  31. Risks, triggers, probability and Impact, planned responses, and risk owners; are all contained on what?
    Risk Register
  32. This technique may be used to help decompose or categorize risk
    Diagramming Techniques
  33. These are the characteristics which indicate that a risk event is possible in the near future
    Risk Triggers (part of the Risk Register)
  34. What is used to ensure that documented risks are still only risk and that their ranking, characteristics, probabilities, and impacts haven't changed?
    Risk Reviews
  35. What step in the Project Risk Management (Planning Process Group); are risks analyzed for probability and for their impact if they were to occur
    Perform Qualitative Risk Analysis
  36. Risk Register, Risk Management Plan, and Project Scope Statement are inputs to what step in "Project Risk Management" (Planning Process Group)
    Perform Qualitative Risk Analysis
  37. Theses are Tools and Techniques of what step in the "Project Risk Management" (Planning): risk probability and impact assessment, probability and impact matrix, risk datat quality assessment, risk categorization, risk urgency assessment
    Perform Qualitative Risk Analysis
  38. What step comes after the Perform Qualitative Risk Analysis?
    Perform Quantitative Risk Analysis
  39. What Output comes from the Perform Qualitative Risk Analysis?
    Risk Register Updates
  40. The Risk Probability and Impact Assessment (a T & T for Perform Qualitative Risk Analysis) helps show?
    What is likely to occur on the project and the possible effects of a risk
  41. How are risk assessed for the quality of the risk data, to ensure that it is as valid and accurate as possible?
    Risk Data Quality Assessment (a T & T for Perform Qualitative Risk Analysis)
  42. Risk Categorization (a T & T for Perform Qualitative Risk Analysis) helps to do what for risk sources?
    Group them
  43. This assess the urgency of risks identified so that responses can be appropriately created
    Risk Urgency Assessment (T & T for Perform Qualitative Risk Analysis)
  44. Normal, Beta, and Triangular are the three most common types of what?
    Probability Distibution
  45. This Probability Distributions function is typically used for statistical or scientific computing?
    Normal Distribution
  46. This Probability Distribution function is used to model events which must take place within an interval that has a minimum and maximum value?
    Beta Distribution
  47. This Probability Distribution is the most common distribution used in business modeling because its parameters (minimum, most likely, and maximum) are understood even by those unfamiliar with risk analysis?
    Triangular Distribution
  48. This is a tool used when an organization wants to evaluate the impact of a risk and the probability of its occurrence?
    Probability and Impact Matrix (T & T for Perform Qualitative Risk Analysis)
  49. This step in the "Project Risk Management" is used to break down risks form a high, medium, and low ranking based on actual numerical valurs and probabilities of occurrence.
    Perform Quantitative Risk Analysis (Planning)
  50. Techniques used for Perform Quantitative Risk Analysis that can help in getting realistic time and cost targets for the project in line with the documented risk
    Decision Tree Analysis and Monte Carlo simulation
  51. Risk Register, Risk Management Plan, Cost Management Plan, and Schedule Management Plan are inputs for what step in "Project Risk Management" (Planning)
    Perform Quantitative Risk Analysis
  52. Data Gathering and Representation Techniques & Quantitative Risk Analysis and Modeling and Modeling Techniques are Tools and Techniques for what step in the "Project Risk Management" (Planning)
    Perform Quantitative Risk Analysis
  53. The Output for Perform Quantitative Risk Analysis
    Risk Register Updates
  54. The step after Perform Quatitative Risk Analysis?
    Plan Risk Responses
  55. The Data Gathering and Representation techniques are key in performing accurate....
    Expected Monetary Value (EMV) and decision Tree Analysis (T & T for Perform Quantitative Risk Analysis)
  56. Quantitative risk analysis and modeling techniques such as sensitivity analysis, EMV, and decision tree analysis are used to learn more about what?
    The characteristics of the risks
  57. The likelihood that something will occur is known as?
    Probability
  58. Probability is usually measured in...
    % (0-100) or real numbers (0.0 - 1.0)
  59. The sum of all probabilities is equal to..
    100% or 1.0
  60. The consequence or amount at stake if something does occur is called (can be good or bad)
    Impact
  61. Based on looking at the probability and impact of all potential decisions to determine the potential expected Monetary Value (EMV) of the opportunity as a whole
    Decision Trees analysis
  62. This is a mock-up technique that uses software to simulate project characteristics to determine possible outcome.
    Monte Carlo
  63. In this step the PM determines responses for the potential risks that could occur
    Plan Risk Responses (Planning)
  64. Risk Register and Risk Management Plan are inputs for what step in the Project Risk Management (Planning)
    Plan Risk Responses
  65. Strategies for Negative Risks or Threats, Strategies for Positive Risks or Opportunities, and Contingent Responses Strategies are T/T for which step in Project Risk Management
    Plan Risk Responses
  66. What are the Outputs for Plan Risk Responses?
    Risk Register updates, Risk-related Contract Decisions, and Project Management Plan Updates
  67. What step follows Plan Risk Responses?
    Monitor and Control Risks
  68. Techniques that are used to create risk responses for negative risks (Avoid, Transfer, and Mitigate)
    Strategies for Negative Risk or Threats (T/T Plan Risk Responses)
  69. Techniques that are used to maximize positive risks or opportunities (Share, Exploit, and Enhance)
    Strategies for Positive Risks or Opportunities (T/T Plan Risk Responses)
  70. Contingent responses strategy (T/T Plan Risk Responses) creates responses if certain events
    Trigger the response
  71. Reserves that are:
    Known/Unknowns,
    For risk events that you know will occur (managed by PM)
    Contingency Reserve
  72. Reserves that are:
    Unknown/Unknowns
    For risk events you cannot forecast potentially occurring. (management controlled funds)
    Management Reserves
  73. The amount of risk remaining after a risk response has been implemented
    Residual Risk
  74. A jeopardy that results from the implementation of a risk response
    Secondary Risk
  75. A contingency put into action when a risk response and any backup plans don't work
    Workaround
  76. Step where PM and team focus on observing the project activities for risk triggers and risks and implementing means to control them.
    Monitor and Control Risks (Monitoring and Controlling Process Group)
  77. These are inputs for what step in Project Risk Management (Monitoring and Controlling): Risk Register, Project Management Plan, Work Performance Information, and Performance Reports
    Monitor & Control Risks (Monitoring and Controlling)
  78. Risk reassessment, risk audits, variance & trend analysis, technical performance measurement, reserve analysis, and status meetings are T/T for which step in (Monitoring and Controlling)
    Monitor and Control Risks

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