Project Risk Management Risk Response Strategies 4

Question 1

Secondary risks are best defined as:

Accepted Answer

Risks that arise as a direct result of implementing a risk response

Answer

Secondary risks are new risks introduced by the implementation of a risk response strategy.

Question 2

A project manager decides to prototype a new technology before full deployment to reduce the risk of technical failure. This is an example of:

Accepted Answer

Mitigate

Answer

Prototyping reduces the probability or impact of technical failure risk, which is a mitigation strategy.

Question 3

Which of the following is a key input when selecting among multiple risk response options?

Accepted Answer

Risk appetite and tolerance of the organization

Answer

The organization's risk appetite and tolerance define how much risk is acceptable, directly influencing which response strategy is most appropriate.

Question 4

A project team is considering canceling a high-risk deliverable that is not part of the core project objectives. This is an example of risk:

Accepted Answer

Avoidance

Answer

Removing a risky element from the project scope eliminates the risk entirely, which is the definition of avoidance.

Question 5

Active acceptance of a risk involves:

Accepted Answer

Establishing a contingency reserve or contingency plan in advance

Answer

Active acceptance acknowledges the risk and prepares contingency reserves or plans in case it occurs.

Project Risk Management Practice Test