Project Risk Management Trivia 4

Question 1

What is 'risk urgency assessment' used for during Perform Qualitative Risk Analysis?

Accepted Answer

Identifying which risks require near-term responses

Answer

Risk urgency assessment identifies risks that may require near-term attention because the time to respond is short.

Question 2

Which term describes a risk that can benefit multiple projects if it occurs?

Accepted Answer

Shared risk

Answer

A shared risk is one whose ownership is best allocated to another party such as the program or portfolio level because it affects multiple projects.

Question 3

In the risk probability and impact matrix, what does a score in the 'red zone' typically indicate?

Accepted Answer

The risk requires immediate and active management attention

Answer

Risks in the red zone have high probability and/or high impact and require immediate, active management responses.

Question 4

What is the key difference between residual risk and secondary risk?

Accepted Answer

Residual risk remains after a response; secondary risk is created by the response

Answer

Residual risk is what remains after a response is applied, while secondary risk is a new risk introduced by implementing the response.

Question 5

A project manager enhances the probability of an opportunity by adding a subject matter expert to the team. This is an example of which opportunity response strategy?

Accepted Answer

Enhance

Answer

Enhance increases the probability or impact of an opportunity, such as adding expertise to make success more likely.

Project Risk Management Practice Test

Project Risk Management Practice Test

Project Risk Management Trivia 4