PROJECT RISKS MANAGEMENT

Top Quality

www.SingaporeProjectManagement.org

● Experienced Trainers

● Effective Results

Project Risks Management Practice Exam Questions 1. Which of these is a valid response to negative risks and not positive risks? A. Exploit B. Mitigate C. Enhance D. Share 2. Which of these is accurate regarding risk management? A. Organizations are not likely to perceive risk as a threat to project success B. It has its origins in the uncertainty present in all projects C. The attitudes of individuals and organizations must not be a factor affecting risk management D. It is a passive activity in project management 3. As the project manager, of a project to construct a city park, you have yourself identified 39 risks on the project, determined what would trigger the risks, rated them on a risk rating matrix, tested the assumptions and assessed the quality of the data used. You now plan to move to the next step of the risk management process. What have you missed? A. Overall risk ranking for the project B. Involvement of other stakeholders C. Risk Mitigation D. Simulation 4. Your project sponsor has asked you to present your project's high-level risk register to him in the next project update meeting. Which of the following processes must be started to have your high level risk register? A. Plan Risk Management B. Perform Qualitative Risk Analysis C. Identify Risks D. Control Risks 5. Which of these is an input of the Control Risks process? A. Risk audits B. Change requests C. Work performance information D. Work Performance Reports 6. Which of the following is true about risks? Page 1

PROJECT RISKS MANAGEMENT

Top Quality

www.SingaporeProjectManagement.org

● Experienced Trainers

● Effective Results

A. The risk register documents all the identified risks in detail B. Risk impact should be considered, but probability of occurrence is not important C. Risks always have negative impact and not positive D. Risk Response Plan is another name for Risk Management Plan. 7. During which stage of risk planning are risks prioritized based on their relative probability and impact? A. Perform Qualitative risk analysis B. Identify Risks C. Perform Quantitative risk analysis D. Plan Risk Responses 8. If a project has a 60% chance of a U.S. $100,000 profit and a 40% chance of a U.S. $100,000 loss, the expected monetary value of the project is? A. $20,000 profit B. $40,000 loss C. $100,000 profit D. $60,000 loss 9. Which of these statements about Risk in a project is correct? A. Risks are always negative in nature and are threats that need to be managed well B. A risk is always induced external to the project. C. Risk responses reflect an organization's perceived balance between risk taking and risk avoidance D. Risks need not be planned for in all projects 10. The Manage Communications process belongs to which of the following process groups? A. Planning B. Monitoring & Controlling C. Closing D. Executing

Page 2