Quiz: Important Questions On Project Risk Management

10 Questions | By Marchesl | Updated: Mar 21, 2022 | Attempts: 724

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Quiz: Important Questions On Project Risk Management - Quiz

Welcome to the important questions on project risk management. It is very rare that you will get a project that offers zero risks for those undertaking them, and this is due to a lot of factors such as the resources, time, and even quality. As a project manager, just how much do you know about risk? Do take up this quiz and get to refresh your memory!

Questions and Answers

1.

Risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives. True or false?
- A.
  
  True
- B.
  
  False
2.

Risk [Blank] individuals do not like to take risks.
3.

Which of the following is NOT considered Risk Categorization?
- A.
  
  External
- B.
  
  Internal
- C.
  
  Technical
- D.
  
  Methodology
4.

A hierarchical representation of risks according to their risk categories is called:
- A.
  
  Risk Categorization
- B.
  
  Risk Breakdown Structure
- C.
  
  Risk Data Assessment
- D.
  
  Risk Reassessment
5.

A risk response strategy whereby the project team acts to reduce the probability of occurrence or impact of a risk.
6.

The process of determining which risks may affect the project and documenting their characteristics.
- A.
  
  Identify Risks
- B.
  
  Risk Management Plan
- C.
  
  Risk Register
- D.
  
  Scope risks baseline
7.

Plan Risk Management Inputs include
- A.
  
  Project Management Plan
- B.
  
  Project Charter
- C.
  
  Stakeholder Register
- D.
  
  Expert Judgement
8.

The risk analysis technique that helps to determine which risks have the most potential impact on the project.
- A.
  
  Expected monetary value analysis
- B.
  
  Sensitivity Analysis
- C.
  
  Monte Carlo simulation
- D.
  
  Decision tree diagrams