Project Risk Management Trivia 3

Question 1

What distinguishes a 'risk owner' from a 'risk action owner' on a project?

Accepted Answer

Risk owners are accountable for the risk; action owners execute specific response tasks

Answer

The risk owner is accountable for overall risk management, while the risk action owner performs specific response tasks.

Question 2

Which technique uses expert judgment structured through anonymous questionnaires and feedback rounds?

Accepted Answer

Delphi technique

Answer

The Delphi technique gathers expert consensus through anonymous questionnaires and iterative feedback rounds.

Question 3

What is the primary purpose of a risk audit in project management?

Accepted Answer

To examine and document the effectiveness of risk responses

Answer

Risk audits examine and document whether risk responses are effective and whether the risk management process is being followed.

Question 4

When is a 'workaround' used in project risk management?

Accepted Answer

As an unplanned response to an unidentified risk that occurs

Answer

A workaround is an unplanned response developed when a risk occurs that was not previously identified or planned for.

Question 5

What does a 'tornado diagram' display in quantitative risk analysis?

Accepted Answer

The relative impact of individual risks on project objectives

Answer

A tornado diagram ranks risks by their relative impact on a specific project variable, with the highest-impact risk at the top.

Project Risk Management Practice Test