Project Risk Management Project Risk Management 5

Question 1

Which response strategy for opportunities involves allocating ownership to a third party best positioned to capture the benefit?

Accepted Answer

Share

Answer

Sharing transfers ownership of an opportunity to a third party (e.g., a joint venture) that is better positioned to realize it.

Question 2

A project manager reviews risk responses at the end of the project to document what worked. This activity BEST fits within:

Accepted Answer

Close Project or Phase

Answer

Lessons learned from risk responses are captured during the Close Project or Phase process and stored in organizational process assets.

Question 3

Workarounds are MOST commonly associated with:

Accepted Answer

Responses to risks that were not previously identified

Answer

Workarounds are unplanned responses developed in real time when unanticipated risks (unknown unknowns) occur.

Question 4

Which of the following BEST represents an overall project risk?

Accepted Answer

The combined effect of all individual risks on project objectives

Answer

Overall project risk represents the aggregate effect of all uncertainties on project outcomes, not just individual risk events.

Question 5

A Risk Breakdown Structure (RBS) is used to:

Accepted Answer

Organize risks into hierarchical categories

Answer

The RBS organizes identified risks into a hierarchical structure by source or category to facilitate analysis.

Project Risk Management Practice Test