The two major components of a risk are:
* Cost and decision-making circumstances
* Quality and time
* Uncertainty and impact
* Time and cost The cause of a risk event is usually referred to as:
* An opportunity
* An unwanted surprise
* An outcome
* A hazard A risk with a positive outcome is often called an _______ and a risk with a negative outcome is often called a ________ . If there is a 40% chance of making $100,000 and a 60% chance of losing $120,000 then the expected monetary outcome using the Expected Monetary Value (or decision tree) analysis is Assumption, mitigation, and transfer are examples of risk:
* Responses
* Uncertainties
* Contingencies
* Expectations Identifying, a risk as high, moderate, or low would be an example of which risk assesment?
* identification
* Quantitative
* Adverse
* Qualitative Which of the following is generally not part of overall risk management?
* Defining the risk roles and responsibilities of the team members
* risk scoring and interpretation
* Selecting the Project Manager
* Establishing a risk reporting format A technique for risk evaluation that uses a questionnaire, a series of rounds, and reports submitted in confidence and then circulated with the source unidentified is called:
* A risk management team
* Delphi technique
* Solicited team responses
* The risk interview group Risk symptoms or early warning signs are often called:
* Contingency events
* Pre-events
* Triggers
* Vectors A risk response strategy that generally reduces the probability or impact of the event with out altering the project's objectives is called:
* Enhance
* Transfer
* Mitigation
* Avoidance Which of the following is not a risk quantification tool or technique?
* Objective Setting
* Interviewing
* Simulation
* Decision tree analysis Varying one risk driver at a time, either in small increments or from optimistic to pessimistic estimates while keeping other drivers fixed, is called:
* Network analysis
* Decision tree analysis
* Expected monetary value analysis
* Sensitivity analysis