1. Thresholds (also called triggers) are used to:

A. Justify delays in risk planning.

B. Initiate risk response planning.

C. Identify when a risk should be acted upon.

D. Notify the sponsor when the risk management plan is approved.

E. Document the final risk management plan.

2. In Project Risk Management, Risk Response may include actions to:

A. Extend the schedule.

B. Clarify requirements.

C. Reduce project scope.

D. All of the above

E. A and B

3. As an output of the Perform Quantitative Risk Analysis process, the risk register is updated. These updates include:

A. Prioritized list of quantified risks.

B. Probabilistic analysis of the threats to ignore and opportunities to accept.

C. Checklists, corrective actions, and quantified decision trees.

D. Direction, resources, and contingency costs.

4. In the Plan Risk Responses process, an accept strategy indicates that the project team has decided:

A. To agree with the project manager.

B. To eliminate a specific risk or threat, to reduce the probability and/or impact of an adverse risk event to be within acceptable threshold limits, or to pursue an opportunity actively.

C. Not to change the project management plan to deal with a risk, or is unable to identify any other suitable response strategy.

D. To purchase insurance or to require performance bonds, warranties, and guarantees.

5. The major processes of Project Risk Management are:

A. Plan Risk Management, Identify Risks, Assess Risks, Mitigate Risks, Transfer Risks, and Document Outcomes.

B. Identify Risks, Plan Risk Management, Evaluate Risks, Develop Risk Responses, Mitigate Risks, and Document Results.

C. Identify Risks, Perform Qualitative Risk Validation, Perform Quantitative Impact Assessment, Develop Risk Response Strategies, Document Response Strategies, and Monitor Risk

D. Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, and Monitor and Control Risks.

6. Inputs to the Identify Risks process include all the following EXCEPT:

A. Risk Management Plan

B. Activity Duration Estimates

C. Quality Management Plan

D. Enterprise Business Objectives

E. Enterprise Environmental Factors

7. The outputs from the Monitor and Control Risks process include all of the following EXCEPT:

A. Risk register updates.

B. Work breakdown structure (WBS).

C. Change requests.

D. Project management plan updates.

8. Brainstorming is useful in risk identification because:

A. it draws on the experiences of many different individuals.

B. if well executed, it can result in a comprehensive list of project risks.

C. team members participate anonymously.

D. All of the above.

E. A and B

9. Sensitivity analysis:

A. Examines the extent to which the uncertainty of project objectives affects each project element simultaneously.

B. Examines the extent to which the uncertainty of each project element affects the objective being examined when all other uncertain elements are held at their baseline values.

C. Is a method for assessing stakeholders' tolerance to risk?

D. Cannot be used to determine which risks have the most potential impact on the project.

10. Risk management allows the project manager and the project team to:

A. eliminate most risks during the planning phase of the project

B. identify project risks

C. identify impacts of various risks

D. plan suitable responses

E. B, C and D only