Risk Management Practice Exam Questions And Already Passed Answers.
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Course
PMT 0170 RISK MANAGEMENT
Institution
PMT 0170 RISK MANAGEMENT
A project manager has just started the risk management process on a project. Which of the following statements accurately describes the objectives of risk management on a project?
A) Risk management is done to increase the probability and/or impact of positive risks.
B) Risk management is done ...
Risk Management Practice Exam
Questions And Already Passed Answers.
A project manager has just started the risk management process on a project. Which of the following
statements accurately describes the objectives of risk management on a project?
A) Risk management is done to increase the probability and/or impact of positive risks.
B) Risk management is done to decrease negative risks' probability and/or impact.
C) Risk management is done to minimize all risks.
D) Risk management increases the probability and/or impact of positive risks and decreases the
probability and/or impact of negative risks. - Answer D) Risk management increases the probability
and/or impact of positive risks and decreases the probability and/or impact of negative risks.
The objectives of project risk management include increasing the probability and/or impact of positive
risks and decreasing the probability and/or impact of negative risks.
While discussing risk management with a team member, what should the project manager say about the
different risk levels?
A) There are two levels: individual project risks and overall project risks.
B) There is only one level of risk: individual project risks.
C) There is only one level of risk: overall project risks.
D There are two levels: project risks and operations risks. - Answer A) There are two levels: individual
project risks and overall project risks.
The risk management process in the PMBOK lists two levels of project risks: individual and overall project
risks.
Which of the following statements is false regarding how risk will affect the project?
, A) Risk will continue to emerge during the lifetime of the project
B) Risks should be monitored and managed as the project progresses
C) Risk identification should only be done at the beginning of the project
D) Risk identification is done throughout the project - Answer C) Risk identification should only be done
at the beginning of the project
Risk identification is done throughout the project. As the project progresses, new risks will emerge and
will have to be assessed by the project team.
The project manager knows managing risks is an important part of a project. One of the most important
aspects is documenting the stakeholders' risk appetite. Where would the project manager document the
stakeholders' risk appetite?
A) In the stakeholders' engagement plan
B) In the scope management plan
C) In the risk management plan
D) In the risk register - Answer C) In the risk management plan
The stakeholders' risk appetite is documented and stored in the risk management plan. The
stakeholders' risk appetite is an important component of the plan since it will help determine what risks
will be acceptable.
The project team members are reviewing the risk in the risk register to determine which risks will have
the greatest impact on a project. One risk, in particular, has a very high impact, but the team has
determined that this risk should be ranked very low on the project. What statement best describes why
this risk is ranked so low?
A) The probability of the risk occurring is low
B) The project team is not familiar with the risk
C) The risks will take place in the far future of the project
D) They are using the wrong methods to assess the risks - Answer A) The probability of the risk
occurring is low
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