139 - Chapter 11-13

30 Questions | By Minionlen | Last updated: Mar 22, 2022 | Total Attempts: 275

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1.

_____________ is an uncertainty that can have a negative or positive effect on meeting project objectives.
- A.
  
  Risk utility
- B.
  
  Risk tolerance
- C.
  
  Risk management
- D.
  
  Risk
2.

A person who is risk-_____________ receives greater satisfaction when more payoff is at stake and is willing to pay a penalty to take risks.
- A.
  
  Averse
- B.
  
  Seeking
- C.
  
  Neutral
- D.
  
  Aware
3.

Which risk management process involves prioritizing risks based on their probability and impact of occurrence?
- A.
  
  Planning risk management
- B.
  
  Identifying risks
- C.
  
  Performing qualitative risk analysis
- D.
  
  Performing quantitative risk analysis
4.

Your project involves using a new release of a common software application, but if that release is not available, your team has _____________ plans to use the current release.
- A.
  
  Contigency
- B.
  
  Fallback
- C.
  
  Reserve
- D.
  
  Mitigation
5.

Which risk identification tool involves deriving a consensus among a panel of experts by using anonymous input regarding future events?
- A.
  
  Risk breakdown structure
- B.
  
  Brainstorming
- C.
  
  Interviewing
- D.
  
  Delphi technique
6.

A risk _____________ is a document that contains results of various risk management processes, and is often displayed in a table or spreadsheet format.
- A.
  
  Management plan
- B.
  
  Register
- C.
  
  Breakdown structure
- D.
  
  Probability/impact matrix
7.

_____________ are indicators or symptoms of actual risk events, such as a cost overrun on early activities being a symptom of poor cost estimates.
- A.
  
  Probabilities
- B.
  
  Impacts
- C.
  
  Watch list items
- D.
  
  Triggers
8.

Suppose there is a 30 percent chance that you will lose $10,000 and a 70 percent chance that you will earn $100,000 on a particular project. What is the project’s estimated monetary value?
- A.
  
  -$30,000
- B.
  
  $70,000
- C.
  
  $67,000
- D.
  
  -$67,000
9.

_____________ is a quantitative risk analysis tool that uses a model of a system to analyze its expected behavior or performance
- A.
  
  Simulation
- B.
  
  Sensitivity analysis
- C.
  
  Monte Carlo analysis
- D.
  
  EMV
10.

Your project team has decided not to use an upcoming release of software because it might cause your schedule to slip. Which negative risk response strategy are you using?
- A.
  
  Avoidance
- B.
  
  Acceptance
- C.
  
  Transference
- D.
  
  Mitigation
11.

What is the top reason for global outsourcing of IT services?
- A.
  
  Cost reduction
- B.
  
  A shortage of qualified personnel
- C.
  
  Decreasing time to market
- D.
  
  Increasing revenues
12.

Your organization hired a specialist in a certain field to provide training for a short period of time. Which reason for outsourcing would this example fall under?
- A.
  
  Reducing costs
- B.
  
  Allowing the client organization to focus on its core business
- C.
  
  Accessing skills and technologies
- D.
  
  Providing flexibility
13.

In which project procurement management process is an RFP often written?
- A.
  
  Planning procurement management
- B.
  
  Conducting procurements
- C.
  
  Controlling procurements
- D.
  
  Selecting sellers
14.

An item you need for a project has a daily lease cost of $200. If you decide to purchase the item, the investment cost is $6,000 and the daily cost is $100. After how many days will the lease cost be the same as the purchase cost?
- A.
  
  30
- B.
  
  40
- C.
  
  50
- D.
  
  60
15.

Which type of contract has the least amount of risk for the buyer?
- A.
  
  Fixed-price
- B.
  
  Cost plus incentive fee (CPIF)
- C.
  
  Time and material
- D.
  
  Cost plus fixed fee (CPFF)
16.

The is the point at which the contractor assumes total responsibility for each additional dollar of contract cost.
- A.
  
  Breakeven point
- B.
  
  Share Ratio Point
- C.
  
  Point of Reconciliation
- D.
  
  Point of Total Assumption
17.

If your college or university wanted to get information from potential sellers for providing a new sports stadium, what type of document would be required of the potential sellers?
- A.
  
  RFP
- B.
  
  RFQ
- C.
  
  Proposal
- D.
  
  Quote
18.

Buyers often prepare a list when selecting a seller to make the process more manageable.
- A.
  
  Preferred
- B.
  
  Short
- C.
  
  Qualified suppliers
- D.
  
  BAFO
19.

A proposal evaluation sheet is an example of a(n) .
- A.
  
  RFP
- B.
  
  NPV analysis
- C.
  
  Earned value analysis
- D.
  
  Weighted scoring model
20.

Is a term used to describe various procurement functions that are now done electronically.
- A.
  
  E-procurement
- B.
  
  E-bay
- C.
  
  E-commerce
- D.
  
  EMV
21.

Which knowledge area was first introduced in the PMBOK® Guide in 2012?
- A.
  
  Project engagement management
- B.
  
  Project consulting management
- C.
  
  Project stakeholder engagement
- D.
  
  Project stakeholder management
22.

Suppliers and concerned citizens are examples of which type of stakeholders?
- A.
  
  Internal
- B.
  
  External
- C.
  
  Supportive
- D.
  
  Unsupportive
23.

What type of information about stakeholders is not included in a stakeholder register?
- A.
  
  Identification
- B.
  
  Classification
- C.
  
  Assessment
- D.
  
  Engagement level
24.

What type of grid can categorize stakeholders based on their level of authority and concern?
- A.
  
  A power/interest grid
- B.
  
  An authority/concern grid
- C.
  
  An authority/interest grid
- D.
  
  A resistance/support grid
25.

One of your project stakeholders has a high amount of authority and a high amount of interest. How should you manage that relationship?
- A.
  
  Keep informed
- B.
  
  Keep satisfied
- C.
  
  Manage closely
- D.
  
  Monitor