Information Technology Project Management 9e Kathy Schwalbe -Test Bank

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.468
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

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.468
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

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: Easy
REFERENCES: p.469
QUESTION TYPE: True / False
HAS VARIABLES: False
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
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

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: Easy
REFERENCES: p.470
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

5. The last step in project risk management is deciding how to address the 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 the knowledge area for a particular project by performing risk management planning.
POINTS: 1
DIFFICULTY: Difficulty: Easy
REFERENCES: p.472
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.77 – LO: 11-1
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: The Importance Of Project Risk Management
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/10/2018 3:10 PM

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: Easy
REFERENCES: p.472
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.78 – LO: 11-3
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: Common Sources Of Risk On IT Projects
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

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: Easy
REFERENCES: p.477
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

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: Easy
REFERENCES: p.477
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

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: Easy
REFERENCES: p.478
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM

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: Easy
REFERENCES: p.478-479
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: INFO.SCHW.14.79 – LO: 11-4
NATIONAL STANDARDS: United States – BUSPROG: – Comprehension
TOPICS: Identifying Risks
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 4/27/2018 3:52 PM
DATE MODIFIED: 6/7/2018 1:04 PM