Project Risk Management Project Risk Management MCQ 3

Question 1

In the context of project risk, what is a 'trigger'?

Accepted Answer

An indicator that a risk event is about to occur

Answer

A trigger (also called a risk symptom or warning sign) is an indicator that a risk event has occurred or is about to occur.

Question 2

Monte Carlo simulation is primarily used in which risk management process?

Accepted Answer

Perform Quantitative Risk Analysis

Answer

Monte Carlo simulation is a quantitative technique used to model the probability of different outcomes numerically.

Question 3

A project manager accepts a risk without taking any proactive action. This strategy is called:

Accepted Answer

Passive acceptance

Answer

Passive acceptance means acknowledging the risk and dealing with it only if it occurs, without preparing a contingency plan.

Question 4

What is the primary output of the Identify Risks process?

Accepted Answer

Risk register

Answer

The risk register is the key output of Identify Risks and documents all identified risks along with their characteristics.

Question 5

Which stakeholder is typically assigned as the risk owner?

Accepted Answer

The person best positioned to monitor and implement risk responses

Answer

A risk owner is the person with the most knowledge or authority to monitor the risk and implement the assigned response.

Project Risk Management Practice Test