23. By virtue of their existence, organizations generate risk which comes under which category? a. external risk b. technical risk c. internal risk d. legal risk 24. A project manager states: /will share this risk with others or totally shift it to them. S/he is exercising which method of risk reduction? a. Avoidance b. Control c. Retention d. Deflection 25. Which facet of risk is associated with fielding and maintaining systems or processes currently developed or being developed? a. supportability risk b. programmatic risk c. technical risk d. cost or schedule risk 26. When it comes to prioritization, who should be the ultimate decision maker in establishing which risks are the most worrisome? a. the project sponsor/client b. the project manager c. the functional manager d. the project team leader 27. The goal of applying the principles of risk management to a project is to: eliminate all project risks b. a. significantly reduce project risks always reduce the cost of completing the project c. d. always reduce the time required to complete the project Whe n setting up a system to identify or classify risks, the project manager would most likely classify the risks according to: a. the probability of occurrence b. the magnitude of the impact, favorable or unfavorable c. the source of the risk d. the customer's risk identification system 29. In your software development, you expected to have 100 efects after the first bu you could have 40 cleared by thel" week, 65 by the 2nd week, 90 by the 3ed week, and 100 cleared by the 4" week. At the end of the 2al week. you see that you have cleared 67 defects. This is an example of a. risk re-assessment b. trend analysis c. reserve analysis d. performance measurement 30. Contingency plans can be based on a. the project manager's past experience b. the advice of experts c. the project manager's aversion to risk d. all of the above 31. Which of the following areas are addressed in risk identification? a. Technical b. Environmental c. Legal d. All of the above 32. Which of the following is not a method for identifying risks? a. Systems engineering documents b. Life-cycle cost analysis c. Work breakdown decomposition d. Pareto charts Since risk is associated with most projects, the best course of action is to: a. cover all project risks by buying appropriate insurance b. avoid projects with clear and present risks c. eliminate all known risks prior to the execution phase of the project d. identify various risks and implement actions to mitigate their potential impact 33. 34. Which of the following elements of project management is perceived as the dark side of a a. quality management b. integration management c. risk management d. monitoring and controlling 35. Uncertainty refers to a situation where: a. b. c. d. the outcomes are known but their probabilities are high the outcomes and their probabilities are known neither the outcomes nor their probabilities are known probabilities of various states of nature can change at any time 36. During which phase of a project is the uncertainty the greatest? a. Design phase b. Development/execution phase c. Concept phase d. Any phase