Managing Project Risks Flashcards
7 cards from real PMBOK practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Managing Project Risks flashcards as text
Which of the following is a risk response strategy that applies ONLY to opportunities?
Answer: Share
Share allocates ownership of an opportunity to a third party best positioned to capture the benefit, and applies only to positive risks.
Risk owners are assigned during which process?
Answer: Plan Risk Responses
Risk owners—the individuals responsible for monitoring and implementing responses—are formally assigned in the Plan Risk Responses process.
A project manager wants to understand which individual risks have the most influence on overall project uncertainty. The BEST tool to use is:
Answer: Tornado Diagram
A Tornado Diagram ranks variables by their impact on the output, showing which risks have the widest range of effect on project outcomes.
What is the KEY output of the Monitor Risks process?
Answer: Work Performance Information
Work Performance Information—including status of risk responses and emerging risks—is the primary output of Monitor Risks.
An Enhance risk response strategy aims to:
Answer: Increase the probability or positive impact of an opportunity
Enhance increases the likelihood or magnitude of a positive risk by targeting its root causes or drivers.
A project manager documents a plan that will be executed only if a specific risk event occurs. This plan is called a:
Answer: Contingency plan
A contingency plan is a predefined set of actions to be taken if a risk event materializes, triggered by identified risk triggers.
Which risk analysis approach is considered SUBJECTIVE and does not use numerical probabilities?
Answer: Qualitative Risk Analysis
Qualitative risk analysis uses descriptive scales (high/medium/low) and expert judgment rather than precise numerical data.