1. If a risk has a 20 percent chance of happening in a given month, and the project is expected to last five months, what is the probability that the risk event will occur during the fourth month of the project?

2. What is meant by RACI?

3. Your construction project was damaged by an earthquake. Your contractor says that he cannot fulfill the terms of the contract due to a specific clause you both had signed the contract. He is referring to the:

4. You are finding it difficult to evaluate the exact cost impact of risk. You should evaluate on a.

5. During which risk management process is a determination to transfer a risk made?

6. You are a new project manager who has never managed a project before. It would be BEST in this situation to rely on _____ during planning in order to improve your chance of success.

7. During project executing, a team member comes to the project manager because he is not sure of what work he needs to accomplish on the project. Which document contains detailed descriptions of work packages.

8. A project manager is quantifying risk for her project. She needs expert opinion in this process and related experts are spread over to different geographical locations. How can she continue?

9. A project manager is in the middle of creating a request for proposal (RFP). What part of the procurement process is she in?

10. There are three projects that are possible to be executed in your company:

Project A: Payback period= 6 years & NPV =$ 3,000,000

Project B: Payback period=4 years & NPV =$ 2,000,000

Project C: Payback period=2 years &NPV =$ 1,000,000

Based on Net Present Value (NPV) criterion, which project should be selected?