Project Risk Management Risk Identification Techniques 3 — Questions and Answers
Question 1: A project manager uses a hierarchical framework that categorizes risks by source (e.g., technical, external, organizational) to ensure comprehensive identification. What is this tool called?
- Risk probability matrix
- Risk breakdown structure (RBS) (Correct answer)
- Work breakdown structure (WBS)
- Risk register
Correct answer: Risk breakdown structure (RBS)
A risk breakdown structure (RBS) is a hierarchical representation of risk categories that guides teams to identify risks across all relevant dimensions.
Question 2: During risk identification, a team uses a pre-defined list of risk categories drawn from industry standards and past project types to prompt discussion. This is best described as using a:
- Risk register template
- Prompt list (Correct answer)
- Qualitative risk matrix
- Stakeholder analysis
Correct answer: Prompt list
A prompt list is a predetermined set of risk categories used as a starting checklist to trigger broader risk thinking during identification sessions.
Question 3: Which risk identification technique asks 'what could go wrong with each deliverable' by tracing the WBS element by element?
- SWOT analysis
- System or process flowchart analysis
- WBS-based decomposition review (Correct answer)
- Influence diagram
Correct answer: WBS-based decomposition review
Reviewing the WBS element by element ensures that risks associated with every deliverable and work package are systematically considered.
Question 4: An IT project team uses SWIFT (Structured What-If Technique) during a risk workshop. What is the core mechanism of this technique?
- Participants independently score risk probability and impact
- A facilitator poses 'what if' scenarios to prompt risk discussion (Correct answer)
- Experts silently vote on the most critical risks
- The team reviews regulatory compliance checklists
Correct answer: A facilitator poses 'what if' scenarios to prompt risk discussion
SWIFT uses facilitated 'what if' questions to systematically challenge project plans and surface risks that might otherwise be overlooked.
Question 5: Influence diagrams are used in risk identification primarily to:
- Rank risks by severity in a grid format
- Show causal relationships and the flow of influence between variables (Correct answer)
- Assign risk owners to identified items
- Track risk response implementation progress
Correct answer: Show causal relationships and the flow of influence between variables
Influence diagrams depict causal relationships and dependencies between project variables, helping teams identify how one factor can trigger or amplify risks.
Question 6: A project manager notices that the same risk categories appear repeatedly across industry projects. Which risk identification approach would BEST leverage this pattern?
- Delphi technique
- Checklist analysis (Correct answer)
- Monte Carlo simulation
- Assumption analysis
Correct answer: Checklist analysis
Checklist analysis uses standardized lists derived from historical projects and industry experience to quickly identify common and recurring risks.
Question 7: Which of the following is a LIMITATION of using checklists for risk identification?
- They are too time-consuming for small projects
- They may cause teams to miss unique or novel risks not on the list (Correct answer)
- They require expensive software tools to create
- They cannot be used alongside brainstorming
Correct answer: They may cause teams to miss unique or novel risks not on the list
Checklists focus attention on known risk types and may cause teams to overlook novel or project-specific risks that fall outside the existing categories.
Project Risk Management Risk Identification Techniques 3
A project manager uses a hierarchical framework that categorizes risks by source (e.g., technical, external, organizational) to ensure comprehensive identification.
What is this tool called?