PCC Risk Assessment & Mitigation 3

Question 1

Which risk analysis technique gathers expert opinions anonymously in iterative rounds to reach consensus?

Accepted Answer

Delphi Technique

Answer

The Delphi Technique uses anonymous questionnaires sent to experts in multiple rounds, reducing bias and groupthink.

Question 2

A risk response that involves changing the project plan to eliminate a threat entirely is called:

Accepted Answer

Avoid

Answer

Risk avoidance involves altering project objectives, scope, schedule, or approach to eliminate the threat completely.

Question 3

What does the 'S-curve' on a cumulative risk exposure chart typically indicate when it flattens at the top?

Accepted Answer

Most known risks have been addressed and residual risk is stable

Answer

A flattening S-curve suggests that risk identification and mitigation efforts have captured the majority of project risk, leaving only stable residual exposure.

Question 4

Which schedule risk metric measures the ratio of earned value to planned value and signals schedule performance?

Accepted Answer

Schedule Performance Index (SPI)

Answer

SPI = EV / PV; a value below 1.0 indicates the project is behind schedule and may signal schedule risk.

Question 5

In risk management, what is a 'trigger' (also called a risk symptom)?

Accepted Answer

An early warning sign that a risk is about to occur

Answer

A trigger is an observable condition or event that signals that a risk is imminent or has occurred, prompting a response.

(PCC) Project Controls Certification Practice Test

(PCC) Project Controls Certification Practice Test

PCC Risk Assessment & Mitigation 3