Chapter 11
True / False
1. Risks can have both negative and positive effects on meeting project objectives.
a. True
b. False
ANSWER: True
RATIONALE: Feedback: Project risk management involves understanding potential problems that might occur on the project and how they might impede project success. However, there are also positive risks or opportunities, which can result in good outcomes for a project.
POINTS: 1
DIFFICULTY: Difficulty: Easy
REFERENCES: p.429
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
2. One possible response to managing negative risk it to accept the potential effects from the risk.
a. True
b. False
ANSWER: True
RATIONALE: Feedback: There are a number of possible actions that project managers can take to avoid, lessen, change or accept the potential effects of risk on their projects.
POINTS: 1
DIFFICULTY: Difficulty: Easy
REFERENCES: p.429
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
3. A risk-seeking person prefers outcomes that are more uncertain and is often willing to pay a penalty to take risks.
a. True
b. False
ANSWER: True
RATIONALE: Feedback: A risk-seeking person prefers outcomes that are more uncertain and is often willing to pay a penalty to take risks.
POINTS: 1
DIFFICULTY: Difficulty: Moderate
REFERENCES: p.431
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
4. Unknown risks can be managed proactively.
a. True
b. False
ANSWER: False
RATIONALE: Feedback: Known risks can be managed proactively. However, unknown risks, or risks that have not been identified and analyzed, cannot be managed.
POINTS: 1
DIFFICULTY: Difficulty: Moderate
REFERENCES: p.431
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
5. The last step in project risk management is deciding how to address this knowledge area for a particular project by performing risk management planning.
a. True
b. False
ANSWER: False
RATIONALE: Feedback: The first step in project risk management is deciding how to address this knowledge area for a particular project by performing risk management planning.
POINTS: 1
DIFFICULTY: Difficulty: Easy
REFERENCES: p.433
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Comprehension
6. Contingency plans are predefined actions that the project team will take if an identified risk event occurs.
a. True
b. False
ANSWER: True
RATIONALE: Feedback: Contingency plans are predefined actions that the project team will take if an identified risk event occurs.
POINTS: 1
DIFFICULTY: Difficulty: Moderate
REFERENCES: p.438
LEARNING OBJECTIVES: INFO.SCHW.14.78 – LO: 11-3
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: Common Sources Of Risk On IT Projects
KEYWORDS: Bloom’s: Knowledge
7. Brainstorming is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.
a. True
b. False
ANSWER: False
RATIONALE: Feedback: Brainstorming is a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment. The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.
POINTS: 1
DIFFICULTY: Difficulty: Moderate
REFERENCES: p.439
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Comprehension
8. The psychology literature shows that individuals, working alone, produce fewer ideas than the same individuals produce through brainstorming in small, face-to-face groups.
a. True
b. False
ANSWER: False
RATIONALE: Feedback: Although businesses use brainstorming widely to generate new ideas, the psychology literature shows that individual people working alone produce a greater number of ideas than they produce through brainstorming in small, face-to-face groups.
POINTS: 1
DIFFICULTY: Difficulty: Moderate
REFERENCES: p.439
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Knowledge
9. The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.
a. True
b. False
ANSWER: True
RATIONALE: Feedback: The Delphi technique is an approach to gathering information that helps prevent some of the negative group effects found in brainstorming. The basic concept of the Delphi technique is to derive a consensus among a panel of experts who make predictions about future developments.
POINTS: 1
DIFFICULTY: Difficulty: Moderate
REFERENCES: p.439
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Knowledge
10. Risk events refer to specific, certain events that may occur to the detriment or enhancement of the project.
a. True
b. False
ANSWER: False
RATIONALE: Feedback: Risk events refer to specific, uncertain events that may occur to the detriment or enhancement of the project.
POINTS: 1
DIFFICULTY: Difficulty: Moderate
REFERENCES: p.440
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: Technology
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Knowledge
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