Project Risk Management Trivia 2

Question 1

Which risk management process was introduced in PMBOK 6th edition as a standalone process?

Accepted Answer

Implement Risk Responses

Answer

Implement Risk Responses was added as a distinct process in PMBOK 6th edition, separating it from Monitor Risks.

Question 2

What does the term 'risk appetite' describe in project risk management?

Accepted Answer

The degree of uncertainty an organization is willing to accept

Answer

Risk appetite describes the degree of uncertainty an organization is willing to accept in pursuit of its objectives.

Question 3

A project team discovers that a vendor's country is experiencing political instability. This is an example of which risk category?

Accepted Answer

External risk

Answer

Political instability in a vendor's country is an external risk, originating outside the project and organization.

Question 4

What is a 'secondary risk' in project management?

Accepted Answer

A new risk created by implementing a risk response

Answer

A secondary risk arises as a direct result of implementing a risk response strategy.

Question 5

Which document typically serves as the primary input to the Plan Risk Management process?

Accepted Answer

Project charter

Answer

The project charter is a key input to Plan Risk Management as it defines high-level project information and initial constraints.

Project Risk Management Practice Test