Project Risk Management Project Risk Management 3

Question 1

Which technique uses expert judgment and group brainstorming to identify risks that may affect the project?

Accepted Answer

Delphi technique

Answer

The Delphi technique collects anonymous expert opinions iteratively to reach consensus on risk identification.

Question 2

A risk response that reduces the probability or impact of a threat is known as:

Accepted Answer

Mitigate

Answer

Mitigation involves taking early action to reduce the likelihood or consequence of a negative risk event.

Question 3

When a risk response creates a new risk, the new risk is called a:

Accepted Answer

Secondary risk

Answer

Secondary risks arise as a direct result of implementing a risk response and must also be managed.

Question 4

Which of the following BEST describes a risk appetite?

Accepted Answer

The degree of uncertainty an organization is willing to accept

Answer

Risk appetite reflects how much risk an organization is willing to take in pursuit of its objectives.

Question 5

In quantitative risk analysis, which technique determines which risks have the most potential impact on project objectives?

Accepted Answer

Sensitivity analysis

Answer

Sensitivity analysis (often shown as a tornado diagram) identifies which variables have the greatest effect on project outcomes.

Project Risk Management Practice Test