PMP Quiz

Plan Risk Management, Identify Risk, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, and Plan Risk Responses are developed in what phase?

Project Scope Statement
Cost Management Plan
Schedule Management Plan
Communications Management Plan
Are Inputs to what Process in Project Risk Management?

What is the Output for Plan Risk Management?

What are the Tools and Techniques for Plan Risk Management?

What step follows Plan Risk Management?

Risk Breakdown Structure (RBS) and Risk Probabilities and Impact Rating Matrix are two examples of document that can be created within what?

What can a PM use to help breakdown the risks on a project?

The Risk Breakdown Structure (RBS) is typically used to do what?

The Probabilities and Impact Matrix is used to do what?

The Risk Probabilities and Impact Rating Matrix can be used to do what?

A component of risk that deals with the amount of information known (or unknown) about the outcome

This is a risk in which insurance can be purchased

This risk is typically uninsurable

Risk-Averse, Risk Seeker, and Risk-Neutral are types of what?

This risk is defined as a mentality of risk avoidance?

This risk is defined as a mentality of looking for risk or worse case, not being afraid of it?

This risk is defined as a middle ground mentality toward risk?

Risk Management Plan, Activity Cost Estimates, Activity Duration Estimates, Scope Baseline, Stakeholder Register, Cost Management Plan, Schedule Management Plan, and Quality Management Plan are Inputs to what Process in Project Risk Managment?

These Tools and Techniques are used in what process: Documentation Reviews, Info gathering techniques, checklist analysis, assumptions analysis, diagramming techniques, SWOT analysis, and expert judgement?

What is the Output for Identify Risks?

What step follows Identify Risks?

What are the Five steps in Project Risk Management under the Planning Process?

The risk management plan is known as the ___________ for risk as it relates to this project

In the "Identify Risks" step, under tools and techniques; why are documentation reviews done?

Other than Documentation Review; what other tool and technique can be used to identify potential risks?

Why are Checklist Analysis (a T & T for identify risk) useful?

What type of analysis assists in determining potential risk exposure ( a T & T for identify risk)

Diagramming Techniques (T & T for identify risk) are used to see what?

This analysis is done to perform a review of the project environment to see what_______, _______, ______, & _____ may occur

This Output to Identify Risks, contains information about what risks could occur on a project, potential responses, root causes, and risk categorization

Risks, triggers, probability and Impact, planned responses, and risk owners; are all contained on what?

This technique may be used to help decompose or categorize risk

These are the characteristics which indicate that a risk event is possible in the near future

What is used to ensure that documented risks are still only risk and that their ranking, characteristics, probabilities, and impacts haven't changed?

What step in the Project Risk Management (Planning Process Group); are risks analyzed for probability and for their impact if they were to occur

Risk Register, Risk Management Plan, and Project Scope Statement are inputs to what step in "Project Risk Management" (Planning Process Group)

Theses are Tools and Techniques of what step in the "Project Risk Management" (Planning): risk probability and impact assessment, probability and impact matrix, risk datat quality assessment, risk categorization, risk urgency assessment

What step comes after the Perform Qualitative Risk Analysis?

What Output comes from the Perform Qualitative Risk Analysis?

The Risk Probability and Impact Assessment (a T & T for Perform Qualitative Risk Analysis) helps show?

How are risk assessed for the quality of the risk data, to ensure that it is as valid and accurate as possible?

Risk Categorization (a T & T for Perform Qualitative Risk Analysis) helps to do what for risk sources?

This assess the urgency of risks identified so that responses can be appropriately created

Normal, Beta, and Triangular are the three most common types of what?

This Probability Distributions function is typically used for statistical or scientific computing?

This Probability Distribution function is used to model events which must take place within an interval that has a minimum and maximum value?

This Probability Distribution is the most common distribution used in business modeling because its parameters (minimum, most likely, and maximum) are understood even by those unfamiliar with risk analysis?

This is a tool used when an organization wants to evaluate the impact of a risk and the probability of its occurrence?

This step in the "Project Risk Management" is used to break down risks form a high, medium, and low ranking based on actual numerical valurs and probabilities of occurrence.

Techniques used for Perform Quantitative Risk Analysis that can help in getting realistic time and cost targets for the project in line with the documented risk

Risk Register, Risk Management Plan, Cost Management Plan, and Schedule Management Plan are inputs for what step in "Project Risk Management" (Planning)

Data Gathering and Representation Techniques & Quantitative Risk Analysis and Modeling and Modeling Techniques are Tools and Techniques for what step in the "Project Risk Management" (Planning)

The Output for Perform Quantitative Risk Analysis

The step after Perform Quatitative Risk Analysis?

The Data Gathering and Representation techniques are key in performing accurate....

Quantitative risk analysis and modeling techniques such as sensitivity analysis, EMV, and decision tree analysis are used to learn more about what?

The likelihood that something will occur is known as?

Probability is usually measured in...

The sum of all probabilities is equal to..

The consequence or amount at stake if something does occur is called (can be good or bad)

Based on looking at the probability and impact of all potential decisions to determine the potential expected Monetary Value (EMV) of the opportunity as a whole

This is a mock-up technique that uses software to simulate project characteristics to determine possible outcome.

In this step the PM determines responses for the potential risks that could occur

Risk Register and Risk Management Plan are inputs for what step in the Project Risk Management (Planning)

Strategies for Negative Risks or Threats, Strategies for Positive Risks or Opportunities, and Contingent Responses Strategies are T/T for which step in Project Risk Management

What are the Outputs for Plan Risk Responses?

What step follows Plan Risk Responses?

Techniques that are used to create risk responses for negative risks (Avoid, Transfer, and Mitigate)

Techniques that are used to maximize positive risks or opportunities (Share, Exploit, and Enhance)

Contingent responses strategy (T/T Plan Risk Responses) creates responses if certain events

Reserves that are:
Known/Unknowns,
For risk events that you know will occur (managed by PM)

Reserves that are:
Unknown/Unknowns
For risk events you cannot forecast potentially occurring. (management controlled funds)

The amount of risk remaining after a risk response has been implemented

A jeopardy that results from the implementation of a risk response

A contingency put into action when a risk response and any backup plans don't work

Step where PM and team focus on observing the project activities for risk triggers and risks and implementing means to control them.

These are inputs for what step in Project Risk Management (Monitoring and Controlling): Risk Register, Project Management Plan, Work Performance Information, and Performance Reports

Risk reassessment, risk audits, variance & trend analysis, technical performance measurement, reserve analysis, and status meetings are T/T for which step in (Monitoring and Controlling)