1. Jerry works as a project manager for uCertify Inc. He and his team are prioritizing the risks for further quantitative analysis based on the risk rating. Which of the following tools and techniques of the qualitative risk analysis process should Jerry use to rate the risks as low, moderate, or high priority?A:Risk probability and impact assessment B:Probability and impact matrix C:Risk categorization D:Risk data quality assessment
2. The decision tree analysis is a risk analysis tool that can help the project manager determine the best risk response. Which of the following nodes in a decision tree represents the possible uncertain outcomes of a risky decision, with at least two nodes to illustrate the positive and negative range of events? A:Event B:Decision C:End D:Root
3. Della works as a project manager for SoftTech Inc. She is working with the project stakeholders to begin the quantitative risk analysis process. For the quantitative risk analysis process, which of the following inputs will be needed in her project? Each correct answer represents a complete solution. Choose all that apply. A:Risk register B:Scope baseline C:Cost management plan D:Risk management plan
4. Which of the following helps in prioritizing the response plan efforts to eliminate (or minimize) the impact of the threats and capitalize on the opportunities? A:Probabilistic analysis of the project B:Probability of achieving cost and time objectives C:Prioritized list of quantified risks D:Trends in quantitative risk analysis results
5. Which of the following tree-based techniques is used for illustrating the sequence of outcomes that may arise after the occurrence of a selected initial event? A:Fault-tree analysis (FTA) B:Management oversight risk tree (MORT) C:Cause-consequence analysis (CCA) D:Event-tree analysis (ETA)
6. Your project team has completed the perform quantitative risk analysis process for your project work. Based on their findings, they need to update the risk register with several pieces of information. Which one of the following components is likely to be updated in the risk register based on their analysis? A:Qualitative analysis outcomes B:Prioritized list of quantified risks C:Risk ranking matrix D:Listing of risk mitigation
7. Which of the following are tools and techniques of perform quantitative risk analysis? Each correct answer represents a complete solution. Choose all that apply. A:Risk urgency assessment B:Decision tree C:Simulation D:Probability and impact matrixtion
8. Which of the following provides a methodological framework for the evaluation of alternative choices made by individuals, firms and organizations? A:Sensitivity analysis B:Utility theory C:HAZOP
9. Which of the following sets of attributes of risk combine to form a risk magnitude indicator? A:Risk probability and risk impact B:Risk description and risk impact C:Risk probability and risk categorization D:Risk description and risk categorization
10. Which of the following is the process of numerically analyzing the effect of identified risks on the overall project objectives? A:Quantitative risk analysis B:Qualitative risk analysis C:Plan risk responses D:Monitor and control risks
11. Which of the following diagrams displays sensitivity analysis data? A:Tornado B:Fishbone C:Influence D:Cause-and-effect
12. Which of the following processes is described in the statement given below? "This is the process of numerically analyzing the effects of identified risks on the overall project objectives." A:Perform qualitative risk analysis B:Perform quantitative risk analysis C:Identify risks D:Control risks
13. ____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen. A:Sensitivity B:Expected monetary value C:Expert judgment D:Modeling and simulation