CAM Risk Analysis

Question 1

What is the primary goal of risk management in project management?

Accepted Answer

To identify and mitigate project risks

Answer

To eliminate all project risks

Answer

To increase project complexity

Answer

To ignore minor risks

Question 2

Which risk management process involves determining the likelihood and impact of risks?

Accepted Answer

Risk assessment

Answer

Risk identification

Answer

Risk monitoring

Answer

Risk escalation

Question 3

Which risk response strategy involves taking proactive steps to minimize risk impact?

Accepted Answer

Risk mitigation

Answer

Risk avoidance

Answer

Risk acceptance

Answer

Risk transfer

Question 4

Which document helps track and manage project risks?

Accepted Answer

Risk register

Answer

Project charter

Answer

Work breakdown structure

Answer

Stakeholder matrix

Question 5

What is the purpose of a contingency plan in risk management?

Accepted Answer

To provide a response strategy for identified risks

Answer

To ignore potential risks

Answer

To increase project risks

Answer

To eliminate all project uncertainty

Question 6

Which risk response strategy involves transferring risk responsibility to a third party?

Accepted Answer

Risk transfer

Answer

Risk mitigation

Answer

Risk avoidance

Answer

Risk escalation