Per Hillson (2009) Risk Response Implementation is a formal risk process step to

a.None of the above

b.Determine appropriate response strategies and actions for each individual risk and for overall project risk

c.Evaluate key characteristics of individual risks enabling them to be prioritized for further action, and recognizing patterns of risk exposure

d.Implement agreed actions, determine whether they are working, and identify any resultant secondary risks

The "chosen response to uncertainty that matters, influenced by perception" is defined as

a.None of the above

b.'Risk worthy'

c.'Pragmatic response'

d.'Risk attitude'

Clear my choice

As part of Risk Process Initiation, the project team

a.Set threshold for how much risk is acceptable

b.None of the above

c.Both A and B

d.Define risk objectives

A Risk Champion is responsible for

a.The overall project and for delivering on time and on budget

b.Performing one or more of the actions that make up the risk response

c.Overseeing and facilitating the risk management process

d.Managing a specific identified risk

Project team members should proactively

a.Hide risks from the organization and project sponsor

b.Participate in decreasing risk scores of project risks

c.Identify and manage risks in their area or responsibility

d.Avoid risk workshops and risk review meetings to focus on their project duties

You are a project manager and the proactive actions identified by the team to mitigate a risk are not cost-effective. One option as the project manager you can do is to

a.Deem the risk is not credible and retire the risk

b.Accept the risk

c.Ignore the risk and do nothing

d.Borrow funds from your friends project to mitigate the risk

An Action Owner's role includes

a.Monitoring the efficiency and effectiveness of the process in conjunction with the Risk Champion

b.None of the above

c.Implementing agreed actions to support response strategies

d.Regularly reporting risk status to senior management

Clear my choice

We cannot identify risks by

a.Conducting interviews

b.Reading the Project Management Body of Knowledge

c.Brainstorming

d.Creating checklists

All the following are strategies for threats except

a.Transfer

b.Mitigate

c.Accept

d.Maximize

Why is it important to set priorities when completing a Quantitative Risk Analysis?

a.One can evaluate combined effects of risks on the project outcome and assess overall project risk exposure

b.Allows one to define the scope, objectives, and practical parameters of project risk management process

c.None of the above

d.Allows one to determine the appropriate response strategies and actions for each individual risk and for overall project risk

Clear my choice

According to Hillson (2009) there are three (3) refinements to risks. Select the one that is not true.

a."Setting and achieving objectives are at the heart of project management, and they are the focus of most of the activities at this level. As a result, risk management has a particular importance for project management."

b."Defining risk by linking uncertainty with objectives"

c."Risks are always mitigated"

d."Risks may have a positive or negative impact"

Per Hillson (2009) the working definition of Risk Attitude is

a.'A chosen response to uncertainty that matters, influenced by perception'

b.'A chosen response to uncertainty that matters, that is not influenced by perception'

c.None of the above

d.'A chosen response to certainty that matters, influenced by perception'

In business, comparing the 'Old World' vs. the 'New World', the pace of change is in danger of ______ the rate of learning

a.None of the above

b.Not changing

c.Undertaking

d.Overtaking