1. A strategy that entails shifting the burden of the risk to another organization is called____________.
Answer
Correct Answer:
Transference
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2. Tornado diagram is _________ chart showing the relationship between changes in parameter values and the overall project cost.
Answer
Correct Answer:
Sensitivity
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3. Sensitivity Chart is a bar chart showing the correlation coefficient between changes in a cost parameter and the overall project cost.
Answer
Correct Answer:
True
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4. Documentation of what is and what isn’t included in the project is known as:
Answer
Correct Answer:
Scope
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5. Risks uncertain factors that can affect __________ a project.
Answer
Correct Answer:
Negatively
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6. ___________ is a strategy implemented to engage multiple partners in bearing some portion of the project’s risk.
Answer
Correct Answer:
Risk Sharing
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7. A tool used to communicate identified risks with their expected impact, probability of occurrence, and planned responses is called _________.
Answer
Correct Answer:
Risk Register
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8. Retention is a strategy of managing a potential risk; a willingness to bear the full impact should the risk occur.
Answer
Correct Answer:
False
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9. Specifies quality standards with respect to the specific deliverables and project process.
Answer
Correct Answer:
Quality Assurance Plan
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10. Project Overview is a __________ description of a project’s background, objectives, and anticipated benefits.
Answer
Correct Answer:
High-level
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11. Project description is a detailed description of a project that conveys the reasons for undertaking and the anticipated benefits associated with completing a project.
Answer
Correct Answer:
True
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12. __________ means groupings of functionally related activities to be completed at a specific point in time before moving to the next.
Answer
Correct Answer:
Project Description
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13. A strategy that involves taking some action(s) that reduces the likelihood and/or impact of a risk to an acceptable level is known as:
Answer
Correct Answer:
Mitigation
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14. Executive Summary documentation that explains, justifies, and motivates the project in __________ paragraphs; elevator pitch.
Answer
Correct Answer:
Both
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15. Critical Success Factors (CSFs) are the necessary conditions that must be unsatisfied for the project to succeed.
Answer
Correct Answer:
False
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16. A strategy that specifies a set of tasks to be performed in the event that a risk is realized is called __________.
Answer
Correct Answer:
Contingency Plan
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17. Limits or restrictions that are imposed from outside the project (e.g., regulatory or legal restrictions).
Answer
Correct Answer:
Constraints
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18. ________ is a clearly established specification that determines when a project is complete.
Answer
Correct Answer:
Constraints
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19. _________ is a response strategy where you redefine a project to eliminate the risk altogether.
Answer
Correct Answer:
Avoidance
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20. _______is a specified requirement that is completely stated and cannot, or should not, be logically subdivided.
Answer
Correct Answer:
Atomic Requirement
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21. ___________are items accepted as true without proof or verification, although there may be supporting evidence.
Answer
Correct Answer:
Assumptions
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