A risk severity matrix ....

Question 4 options:

A)	provides alternative plans that will be used if a possible foreseen risk event becomes a reality

B)	can be used to review activity and risk by looking at overall cost and schedule risks.

C)	reports, controls and records changes to the project

D)	provides a basis for prioritizing which risks to address

Question 5 (1 point)

Which of the following is not a response to a risk event as described by the book ...

Question 5 options:

A)	Outsource the risk

B)	Transfer the risk

C)	Mitigate the risk

D)	Avoid the risk

Question 6 (1 point)

When we take action to reduce the likelihood that a risk will occur, we are taking a ___________ approach to risk.

Question 6 options:

A)	Transference

B)	Mitigation

C)	Acceptance

D)

Retention

Question 7 (1 point)

When we decide to accept the risk of an event occurring, we are taking a(n) ___________ approach to risk.

Question 7 options:

A)

Retention

B)

Avoidance

C)	Transference

D)	Mitigation

Question 8 (1 point)

When we decide to pass the risk to another party, we are taking a(n) ___________ approach to risk.

Question 8 options:

A)

Avoidance

B)	Mitigation

C)

Retention

D)	Transference

Question 9 (1 point)

An alternative plan that will be used if a possible foreseen risk event becomes a reality is a(n) ....

Question 9 options:

A)	Risk Response Matrix

B)	Contingency plan

C)	Risk Assessment Matrix

D)	Risk probability mitigation plan

Question 10 (1 point)

A system that involves reporting, controlling, and recording changes to the project baseline is a(n) ...

Question 10 options:

A)	Time Buffer system

B)	Risk Mitigation System

C)	Risk Scenario analysis system

D)	Change Management System

Question 11 (1 point)

An event that can have a positive impact on project objectives is known as a(n) ....

Question 11 options:

A)	Opportunity

B)

Risk

C)

Exploit

D)

Scenario

Question 12 (1 point)

A financial reserve identified for specific work packages or segments of a project in the baseline budget is known as a .....

Question 12 options:

A)	Management reserve

B)	Time buffer

C)	Budget reserve

D)	Change control reserve

Question 13 (1 point)

A time buffer could be added to which of the following to prevent delays in the project?

Question 13 options:

A)	Activities with severe risks

B)	Non-critical activities to avoid the possibility to that will be become critical at some point

C)	Activities that require scarce resources to ensure that the resources are available when needed.

D)	All of the above

Question 14 (1 point)

..... details all identified risks, including descriptions, category and probability of occurrence, impact responses, contingency plans, owners and current status.

Question 14 options:

A)	A risk register

B)	A risk response matrix

C)	A risk contingency plan

D)	A risk assessment matrix

Question 15 (1 point)

The cost impact of a risk event occurring as a project proceeds through its life cycle tends to

Question 15 options:

A)	Drop sharply and then level out

B)	Slowly drop

C)	Remain about the same

D)	Slowly rise

Question 16 (1 point)

Which of the following is not one of the steps in the risk management process?

Question 16 options:

A)	Risk identification

B)	Risk tracking

C)	Risk response development

D)	Risk assessment

Question 17 (1 point)

The initial step in the risk management process is to

Question 17 options:

A)	Assess the risk potential

B)	.Set aside budget funds for managing the risks

C)	Determine the level of acceptable risk

D)	Identify the risks

Question 18 (1 point)

The risk assessment form contains all of the following except

Question 18 options:

A)	Who will detect the occurrence of the risk event.

B)	Potential impact of the risk event

C)	Difficulty of detecting the occurrence of the risk event

D)	Likelihood of the risk event occurring

Question 19 (1 point)

A Risk Response Matrix contains all of the following except

Question 19 options:

A)	Contingency Plan

B)

Trigger

C)	Who is responsible

D)	It contains all of the above

Question 20 (1 point)

Reserves that are allocated to the project to cover major unforeseen risks are referred to as ...

Question 20 options:

A)	Budget Reserves

B)	Management reserves

C)	Time buffers

D)	None of the above

Question 21 (1 point)

Which of the following is not a source of changes to a project?

Question 21 options:

A)	Scope changes in the form of design or additions

B)	Implementation of contingency plans

C)	Improvement changes suggested by project team members

D)	All of the above are sources of change to a project

Question 22 (1 point)

Which of the following is not a benefit from a change control system?

Question 22 options:

A)	Costs of changes are maintained in a log

B)	Allocation and use of budget and management reserve funds are tracked

C)	Responsibility for implementation is clarified

D)	Significant opportunities are identified and scheduled.

Question 23 (1 point)

Which of the following is not a response strategy for an opportunity?

Question 23 options:

A)

Avoid

B)

Enhance

C)

Accept

D)

Share

Question 24 (1 point)

Saved

Which of the following are ways to handle technical risks?

Question 24 options:

A)	Backup plans

B)	Rapid assessment methods

C)	"Crashing the project"

D)	Both A and B

Question 25 (1 point)

A subcontractor going out of business is an example of what kind of risk?

Question 25 options:

	Project Management
	Organizational
	Technical
	External

Question 26 (1 point)

When we recognize a risk that is outside the boundaries of the project and inform those who can deal with it, we are taking which approach?

Question 26 options:

A)	Mitigation

B)	Escalation

C)

Avoidance

D)

Retention

Question 27 (1 point)

When we complete the first three steps of the risk management process, the results are stored in a ...

Question 27 options:

A)	Status report

B)	Risk register

C)	Change Request Log

D)	Issue register