CAPM Risk Management 5

Question 1

Which of the following describes the overall risk of a project rather than individual risks?

Accepted Answer

Overall project risk

Answer

Overall project risk represents the combined effect of all project uncertainties on the project outcome as a whole.

Question 2

A risk probability and impact matrix is used primarily to:

Accepted Answer

Prioritize risks for further analysis

Answer

The probability and impact matrix helps categorize and prioritize risks based on their likelihood and potential effect.

Question 3

Which of the following is an example of a risk mitigation strategy?

Accepted Answer

Adding prototype testing to reduce technical uncertainty

Answer

Mitigation reduces the probability or impact of a risk, and prototyping is a classic example of reducing technical uncertainty.

Question 4

Which technique involves gathering expert opinions anonymously to identify and assess risks?

Accepted Answer

Delphi technique

Answer

The Delphi technique uses multiple rounds of anonymous expert input to build consensus on risk identification and assessment.

Question 5

A project's risk threshold defines:

Accepted Answer

The level of risk exposure above which action must be taken

Answer

Risk thresholds are specific points at which a risk becomes unacceptable and must be addressed with a response.

CAPM Practice Test