Chapter 7-MGMT 368 Flashcards Quizlet PDF

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Chapter 7-MGMT 368 Flashcards Quizlet for academic year 2020-2021...

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8/15/2021

Chapter 7-MGMT 368 Flashcards | Quizlet

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Terms in this set (17) Which of the following is not one of the steps

c. Indentify the risks

in the risk management process? A. Risk response control B. Risk tracking C. Risk identification D. Risk response development E. Risk assessment

One common mistake made in identifying

B. Efforts are focused on consequences rather than causal events

project risks is that A. Too much attention is given to past events B. Efforts are focused on consequences rather than causal events C. Participants are over-pessimistic D. Not all possibilities are considered E. Participants are over-optimistic

In the beginning the focus of risk

D. Impact the whole project

management should be on risks that A. Have the greatest schedule impact B. Have the greatest cost impact C. Are known D. Impact the whole project E. Impact the critical path

The easiest and most commonly used

E. Scenario

technique for analyzing risks is _____ analysis. A. Impact B. Risk/reward C. Payback D. Probability E. Scenario

Which of the following is not one of the

C. Ignoring

potential responses to a specific risk event? A. Sharing B. Transferring C. Ignoring D. Mitigating

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A list of questions that address traditional

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A) Profile

areas of uncertainty on a project is termed a risk A) Profile B) Questionnaire C) Research D) Query E) Checklist

All of the following are included in the risk

C) Competitors

identification process except A) Customers B) Subcontractors C) Competitors D) Vendors E) None of these are included

A risk profile is a list of questions that address

D) From previous, similar projects

traditional areas of uncertainty on a project that answers developed from: A) When the event might occur in the project B) Chances of the event occurring C) Interaction with other parts of the project or with other projects D) From previous, similar projects E) Magnitude or severity of the event's impact

The risk assessment form contains all of the

C) Who will detect the occurrence of the risk event.

following except A) Likelihood of the risk event occurring B) Potential impact of the risk event C) Who will detect the occurrence of the risk event. D) Difficulty of detecting the occurrence of the risk event E) When the risk event may occur

Which of the following is not one of the

A) Ratio/range analysis

probability analysis tools? A) Ratio/range analysis B) Decision tree C) PERT simulation D) PERT E) All of these are probability analysis tools

Technical risks are:

D) Both A and B are correct

A) Often the kind that can cause the project to be shut down. B) Problematic C) Imposed duration dates

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Detailing all identified risks, including

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D) Risk register

descriptions, category, and probability of occurring, impact, responses, contingency plans, owners and current status is called: A) Management reserves B) Change control C) Contingency reserves D) Risk register E) Risk profiles

Change management systems are designed

E) All of the above are correct

to accomplish all of the following except: A) Track all changes that are to be implemented B) Review, evaluates, and approve/disapprove proposed changes formally C) Identify expected effects of proposed changes on schedule and budget D) Reflect scope changes in baseline and performance measures E) All of the above are correct

This risk assessment tool is a variation of the

B) FMEA analysis

risk severity matrix that includes the ease of detection for each of the identified risks. A) PERT simulation B) FMEA analysis C) ratio/range analysis D) probability analysis E) semi-quantitative analysis

The 1999 NASA Mars Climate Orbiter is an

D) Mismanaged risk control

example of A) Disaster avoidance through proactive risk management B) Murphy's Law C) Proper use of critical thinking D) Mismanaged risk control E) Using historical records to assess risk

The risk assessment form contains all of the

C) Who will detect the occurrence of the risk event.

following except A) Likelihood of the risk event occurring B) Potential impact of the risk event C) Who will detect the occurrence of the risk event. D) Difficulty of detecting the occurrence of the risk event E) When the risk event may occur

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the cost impact of a risk event occurring as a

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A) Slowly rise

project proceeds through its life cycle tends to A) Slowly rise B) Drop sharply and then level out C) Rise sharply and then level out D) Remain about the same E) Slowly drop

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