|
Identifying risks is a subprocess of the _____ process of project risk management. |
planning |
|
Risk utility rises at a decreasing rate for a _____ person. |
risk-adverse |
|
The _____ lists the relative probability of a risk occurring and the relative impact of the risk occurring. |
probability/impact matrix |
|
The main outputs of which process include a risk register, risk report, and project documents updates? |
identifying risks |
|
Those who are _____ have a higher tolerance for risk, and their satisfaction increases when more payoff is at stake. |
risk-seeking |
|
Unenforceable conditions or contract clauses and adversarial relations are risk conditions associated with the project _____ management knowledge area. |
procurement |
|
What is the first step in a Monte Carlo analysis? |
Collect the most likely, optimistic, and pessimistic estimates for the variables in the model. |
|
What process involves deciding how to approach and plan the risk management activities for the project? |
planning risk management |
|
Which action involves eliminating a specific threat, usually by eliminating its causes? |
risk avoidance |
|
Which action involves reducing the impact of a risk event by reducing the probability of its occurrence? |
risk mitigation |
|
Which action applies to positive risks when the project team cannot or chooses not to take any actions toward a risk? |
risk acceptance |
|
Which action involves allocating ownership of the risk to another party? |
risk sharing |
|
Which action involves changing the size of the opportunity by identifying and maximizing key drivers of the positive risk? |
risk enhancement |
|
Which action involves doing whatever you can to make sure the positive risk happens? |
risk exploitation |
|
Which action involves shifting the consequence of a risk and responsibility for its management to a third party? |
risk transference |
|
Which analysis technique simulates a model’s outcome many times to provide a statistical distribution of the calculated results? |
Monte Carlo |
|
Which diagramming technique is used to help select the best course of action in situations in which future outcomes are uncertain? |
decision tree |
|
Which document contains results of various risk management processes; it is often displayed in a table or spreadsheet format? |
risk register |
|
Which is a fact-finding technique that can be used for collecting information in face-to-face, phone, e-mail, or instant-messaging discussions? |
interviewing |
|
Which process involves determining what risks are likely to affect a project and documenting the characteristics of each? |
identifying risks |
|
Which process involves monitoring identified and residual risks, identifying new risks, carrying out risk response plans, and evaluating the effectiveness of risk strategies throughout the life of the project? |
monitoring risk |
|
Which process involves numerically estimating the effects of risks on project objectives? |
performing quantitative risk analysis |
|
Which process involves prioritizing risks based on their probability of occurrence and impact? |
performing qualitative risk analysis |
|
Which process involves taking steps to enhance opportunities and reduce threats to meeting project objectives? |
planning risk responses |
Share This
Flashcard
