PROJ 595 Week 5 Quiz (Updated)

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PROJ 595 Week 5 Quiz (Updated)

 

Question 1.Question :(TCO A) A stakeholder analysis in risk management
Student Answer: identifies project stakeholders.
 obtains stakeholder tolerance for a given project.
 determines how best to manage a given stakeholder in a project.
 determines how often to meet with a given stakeholder.

 

Question 2.Question :(TCO A) When using the ATOM process to manage risks, an initiation meeting should be used for
Student Answer: all projects.
 small and medium projects.
 complex projects.
 medium and large projects.

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Question 3.Question :(TCO B) All of the below are risk identification methods, except
Student Answer: Ishikawa diagrams.
 process flow diagrams.
 SWOT.
 residual risk diagrams.

 

Question 4.Question :(TCO D) In which risk response strategies are risks guaranteed to not occur if they are negative and guaranteed to occur if they are positive after the response plan is initiated?
Student Answer: Transference and sharing
 Exploitation and avoidance
 Acceptance and enhancement
 Mitigation and active acceptance

 

Question 5.Question :(TCO E) One the key functions of risk monitoring and control is to
Student Answer: identify new risks.
 reduce scope creep.
 improve project quality.
 minimize communication issues.

 

Question 6.Question :(TCO H) When using the ATOM process to manage risks, which is the importance of an initiation meeting?
Student Answer: To determine how much of the risk management process to employ for a project
 To determine the stakeholder tolerance for quality issues
 To determine how many contractors to employ on a given project
 To determine the proper risk responses for a given project

 

Question 7.Question :(TCOA) Explain when risk breakdown structure is created, and explain the importance of a risk breakdown structure in risk management.

 

Question 8.Question :(TCO B) Explain the qualitative risk analysis process.

 

Question 9.Question :(TCO D) Explain transference as a risk response strategy, and provide an example of its use in a project.

 

Question 10.Question :(TCO E) What is the purpose of performing reserve analysis during the risk management process?

 

Question 11.Question :(TCO H) What is the role of a risk owner in the risk management process?
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