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