Information Technology Project Management Chapter 11 Test Bank Solution Manual Already Passed
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Course
Information Technology Project Management CH11
Institution
Information Technology Project Management CH11
Information Technology Project Management Chapter 11 Test Bank Solution Manual Already Passed
risk - Answers an uncertainty that can have a negative or positive effect on meeting project objectives.
risk appetite - Answers degree of uncertainty
an entity is willing to take on, in anticipation o...
Information Technology Project Management Chapter 11 Test Bank Solution Manual Already Passed
risk - Answers an uncertainty that can have a negative or positive effect on meeting project objectives.
risk appetite - Answers degree of uncertainty
an entity is willing to take on, in anticipation of a reward.
risk tolerance - Answers the maximum acceptable deviation an entity is willing to accept on the project
or business objectives as the potential impact
Risk utility - Answers amount of satisfaction or pleasure received from a potential payoff.
risk-averse - Answers when more payoff or money is at stake, a person or organization that is risk-averse
gains less satisfaction from the risk, or has lower tolerance for the risk.
risk-seeking - Answers higher tolerance for risk, and their satisfaction increases when more payoff is at
stake.
risk-neutral - Answers person achieves a balance between risk and payoff.
known risks - Answers describe risks that the project team has identified and analyzed.
unknown risks - Answers not been identified and analyzed, cannot be managed
Planning risk management - Answers involves deciding how to approach and plan risk management
activities for the project.
Identifying risks - Answers determining which risks are likely to affect a project and documenting the
characteristics of each.
Performing qualitative risk analysis - Answers prioritizing risks based on their probability of occurrence
and impact.
Performing quantitative risk analysis - Answers involves numerically estimating the effects of risks on
project objectives.
Planning risk responses - Answers taking steps to enhance opportunities and reduce threats to meeting
project objectives.
Controlling risk - Answers monitoring identified and residual risks, identifying new risks, carrying out risk
response plans, and evaluating the effectiveness of risk strategies throughout the life of the project.
risk management plan - Answers documents the procedures for managing risk throughout the project.
Contingency plans - Answers predefined actions that the project team will take if an identified risk event
occurs.
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