<p>Project Management - Pre-Quiz Ch 11</p><p>Multiple Choice Identify the choice that best completes the statement or answers the question.</p><p>____ 1. Utility rises at a decreasing rate for a(n) ____ person. a. risk-seeking c. risk-neutral b. risk-averse d. risk-indifferent ____ 2. Those who are ____ have a higher tolerance for risk, and their satisfaction increases when more payoff is at stake. a. risk-seeking c. risk-neutral b. risk-averse d. risk-indifferent ____ 3. ____ involves determining which risks are likely to affect a project and documenting the characteristics of each. a. Risk identification c. Qualitative risk analysis b. Risk management planning d. Quantitative risk analysis ____ 4. ____ involves prioritizing risks based on their probability and impact of occurrence. a. Qualitative risk analysis c. Risk response planning b. Risk management planning d. Quantitative risk analysis ____ 5. ____ involves taking steps to enhance opportunities and reduce threats to meeting project objectives. a. Quantitative risk analysis c. Risk monitoring and control b. Risk response planning d. Qualitative risk analysis ____ 6. ____ are predefined actions that the project team will take if an identified risk event occurs. a. Fallback plans c. Contingency plans b. Contingency reserves d. Contingency allowances ____ 7. According to the Standish Group’s Information Technology Success Potential Scoring Sheet, ____ has the highest relative importance. a. executive management support c. proper planning b. clear statement of requirements d. user involvement ____ 8. “If the information technology project is to produce a new product or service, will it be useful to the organization or marketable to others?” Which risk category does this question apply to? a. Financial risk c. Structure/process risk b. Technology risk d. Market risk ____ 9. “Will the project meet NPV, ROI, and payback estimates?” Which risk category does this question apply to? a. Financial risk c. Structure/process risk b. Technology risk d. Market risk ____ 10. “Is there a project champion?” Which risk category does this question apply to? a. Financial risk c. Structure/process risk b. Technology risk d. People risk ____ 11. In a risk breakdown structure, competitors, suppliers, and cash flow fall under the ____ risk category. a. business c. organizational b. technical d. project management ____ 12. Poor conflict management, poor project organization and definition of responsibilities, and absence of leadership are risk conditions associated with which project management knowledge area? a. Integration c. Time b. Quality d. Human Resources ____ 13. ____ is a fact-finding technique for collecting information in face-to-face, phone, e-mail, or instant-messaging discussions. a. Brainstorming c. The Delphi Technique b. SWOT analysis d. Interviewing ____ 14. A project manager can chart the probability and impact of risks on a(n) ____. a. risk ranking chart c. probability/impact matrix b. risk probability table d. risk assessment matrix ____ 15. ____ are/is a qualitative risk analysis tool, and in addition to identifying risks, it maintains an awareness of risks throughout the life of a project. a. Risk factor analysis c. Risk registering b. Probability/impact matrices or charts d. Top Ten Risk Item Tracking ____ 16. ____ involves eliminating a specific threat, usually by eliminating its causes. a. Risk avoidance c. Risk transference b. Risk acceptance d. Risk mitigation ____ 17. ____ involves shifting the consequence of a risk and responsibility for its management to a third party. a. Risk avoidance c. Risk transference b. Risk acceptance d. Risk mitigation ____ 18. ____ involves reducing the impact of a risk event by reducing the probability of its occurrence. a. Risk avoidance c. Risk transference b. Risk acceptance d. Risk mitigation</p><p>Essay</p><p>19. List and describe four methods for identifying risks. 20. What are the four basic response strategies for negative risks? Describe each strategy. Project Management - Pre-Quiz Ch 11 Answer Section</p><p>MULTIPLE CHOICE</p><p>1. ANS: B PTS: 1 REF: 428 2. ANS: A PTS: 1 REF: 428 3. ANS: A PTS: 1 REF: 429 4. ANS: A PTS: 1 REF: 429 5. ANS: B PTS: 1 REF: 430 6. ANS: C PTS: 1 REF: 431 7. ANS: D PTS: 1 REF: 432 8. ANS: D PTS: 1 REF: 433 9. ANS: A PTS: 1 REF: 433 10. ANS: D PTS: 1 REF: 433 11. ANS: A PTS: 1 REF: 434 12. ANS: D PTS: 1 REF: 435 13. ANS: D PTS: 1 REF: 437 14. ANS: C PTS: 1 REF: 441 15. ANS: D PTS: 1 REF: 445 16. ANS: A PTS: 1 REF: 453 17. ANS: C PTS: 1 REF: 453 18. ANS: D PTS: 1 REF: 453</p>