CRA Risk Identification & Assessment Techniques 1

Question 1

What is the purpose of risk identification?

Accepted Answer

To identify threats to objectives early

Answer

To track project tasks

Answer

To evaluate employee performance

Answer

To develop software

Question 2

Which tool is commonly used to visually assess risks?

Accepted Answer

Risk matrix

Answer

Bar chart

Answer

Org chart

Answer

Flow diagram

Question 3

What is qualitative risk assessment?

Accepted Answer

Using categories to judge severity and likelihood

Answer

Assessment using statistical formulas

Answer

Evaluation with financial models

Answer

Using HR performance reviews

Question 4

Which document helps track identified risks?

Accepted Answer

Risk register

Answer

Project schedule

Answer

Budget forecast

Answer

Meeting agenda

Question 5

Which method involves analyzing root causes of risks?

Accepted Answer

Root cause analysis

Answer

Brainstorming

Answer

Monte Carlo simulation

Answer

Delphi technique

Question 6

What is risk probability?

Accepted Answer

Likelihood of occurrence

Answer

Impact severity

Answer

Project duration

Answer

Team size

Question 7

Which method is used for quantitative risk assessment?

Accepted Answer

Decision tree analysis

Answer

Flowcharts

Answer

Qualitative matrix

Answer

Role play

Question 8

What is a risk trigger?

Accepted Answer

Warning sign of a potential risk

Answer

Stakeholder review

Answer

Action plan

Answer

Budget increase

Question 9

Why is stakeholder input important in risk assessment?

Accepted Answer

To provide valuable perspectives on risk

Answer

To finalize contracts

Answer

To allocate finances

Answer

To shorten project timelines