DEWP - Module 4 - Mini Exam tests understanding of risk management strategies in project settings. It covers management reserves for unknown risks, qualitative risk analysis, risk acceptance, and tools like Tornado Diagrams and SWOT Analysis.
A.) Plan Risk Responses
B.) Perform Quantitative Risk Analysis
C.) Perform Qualitative Risk Analysis
D.) Identify Risks
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A.) Accept the risk
B.) Mitigate the risk
C.) Transfer the risk
D.) Avoid the risk
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A.) It calculates a statistical average of the probable outcome of risk events.
B.) It requires a risk-neutral approach.
C.) It can be used in decision tree analysis.
D.) It calculates the impact of risks that have already occurred.
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A.) Fishbone Diagram
B.) Flowchart
C.) Tornado Diagram
D.) Pareto Chart
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A.) Expert Judgment
B.) SWOT Analysis
C.) Brainstorming
D.) Checklist Analysis
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A.) The Perform Quantitative Risk Analysis process assigns relative probabilities while the Perform Qualitative Risk Analysis process assigns numerical probabilities to the project risks.
B.) The Perform Qualitative Risk Analysis process assigns relative probabilities while the Perform Quantitative Risk Analysis process assigns numerical probabilities to the project risks.
C.) The Perform Qualitative Risk Analysis process is a mandatory process to be performed on every project, while the Perform Quantitative Risk Analysis process is an optional process.
D.) The Perform Quantitative Risk Analysis process is a mandatory process to be performed on every project, while the Perform Qualitative Risk Analysis process is an optional process.
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A.) Relative ranking of risks
B.) Categorization of risks
C.) List of risks for additional analysis
D.) List of potential responses
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A.) Identify Risks
B.) Perform Qualitative Risk Analysis
C.) Perform Quantitative Risk Analysis
D.) Control Risks
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A.) Risk Reassessment
B.) Reserve Analysis
C.) Technical Performance Measurement
D.) Variance and Trend Analysis
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A.) Assumption
B.) Constraint
C.) Unknown risk
D.) Known risk
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A.) These risks need to be reassessed.
B.) These risks need to be transferred to the Risk Watch List.
C.) These risks need to be closed.
D.) These risks need to be documented as Lessons Learned.
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