Please type the responses and make sure they are easy to follow. I have ran into too many tutors with illegible handwriting and the responses were very difficult to follow. Also, if you are not SURE on the correct response, please leave blank and I will further research. Thanks in advance.

1) The initial step in the risk management process is to

• determine the level of acceptable risk.
• assess the risk potential.
• identify the risks.
• set aside funds for managing the risks.
• appoint a risk manager.

2) The project being delayed is an example of a major risk that should be assessed.

• True
• False

3) Responses to all identifiable risks should be a top priority for the project manager.

• True
• False

4) The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as

• risk forecasting.
• risk management.
• contingency planning.
• scenario analysis.
• disaster protection.

5) The risk identification process should be limited to just the core project team.

• True
• False

6) Organizations use __________ in conjunction with work breakdown structures to help management teams identify and eventually analyze risk.

• risk breakdown structures
• contingency breakdown structures
• scenario analysis
• organizational breakdown structure
• risk assessment

7) One common mistake made early in the risk identification process is to

• not consider all possibilities.
• encourage participants be over optimistic.
• support participants being over pessimistic.
• focus on consequences and not on the events that could produce consequences
• give too much attention to past events

8) One common mistake that is made early on in the risk identification process is to focus on consequences and not on the events that could produce consequences.

• True
• False

9) The probability that a risk event will occur is higher during the initial stages of a project.

• True
• False

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

• rise over the life of the project.
• decline over the life of the project.
• rise at first, but then begin to decline over the life of the project.
• decline at first, but then begin to rise over the life of the project.
• remain the same over the life of the project.