Project Management - Pre-Quiz Ch 11Multiple ChoiceIdentify the choice that best completes the statement or answers the question.____ 1. Utility rises at a decreasing rate for a(n) ____ person.a. risk-seeking c. risk-neutralb. risk-averse d. risk-indifferent____ 2. Those who are ____ have a higher tolerance for risk, and their satisfaction increases when more payoff is at stake.a. risk-seeking c. risk-neutralb. risk-averse d. risk-indifferent____ 3. ____ involves determining which risks are likely to affect a project and documenting the characteristics of each.a. Risk identification c. Qualitative risk analysisb. Risk management planning d. Quantitative risk analysis____ 4. ____ involves prioritizing risks based on their probability and impact of occurrence.a. Qualitative risk analysis c. Risk response planningb. Risk management planning d. Quantitative risk analysis____ 5. ____ involves taking steps to enhance opportunities and reduce threats to meeting project objectives.a. Quantitative risk analysis c. Risk monitoring and controlb. Risk response planning d. Qualitative risk analysis____ 6. ____ are predefined actions that the project team will take if an identified risk event occurs.a. Fallback plans c. Contingency plansb. Contingency reserves d. Contingency allowances____ 7. According to the Standish Group’s Information Technology Success Potential Scoring Sheet, ____ has the highest relative importance.a. executive management support c. proper planningb. clear statement of requirements d. user involvement____ 8. “If the information technology project is to produce a new product or service, will it be useful to the organization or marketable to others?” Which risk category does this question apply to?a. Financial risk c. Structure/process riskb. Technology risk d. Market risk____ 9. “Will the project meet NPV, ROI, and payback estimates?” Which risk category does this question apply to?a. Financial risk c. Structure/process riskb. Technology risk d. Market risk____ 10. “Is there a project champion?” Which risk category does this question apply to?a. Financial risk c. Structure/process riskb. Technology risk d. People risk____ 11. In a risk breakdown structure, competitors, suppliers, and cash flow fall under the ____ risk category.a. business c. organizationalb. technical d. project management____ 12. Poor conflict management, poor project organization and definition of responsibilities, and absence of leadership are risk conditions associated with which project management knowledge area?a. Integration c. Timeb. Quality d. Human Resources____ 13. ____ is a fact-finding technique for collecting information in face-to-face, phone, e-mail, or instant-messagingdiscussions.a. Brainstorming c. The Delphi Techniqueb. SWOT analysis d. Interviewing____ 14. A project manager can chart the probability and impact of risks on a(n) ____.a. risk ranking chart c. probability/impact matrixb. risk probability table d. risk assessment matrix____ 15. ____ are/is a qualitative risk analysis tool, and in addition to identifying risks, it maintains an awareness of risks throughout the life of a project.a. Risk factor analysis c. Risk registeringb. Probability/impact matrices or charts d. Top Ten Risk Item Tracking____ 16. ____ involves eliminating a specific threat, usually by eliminating its causes.a. Risk avoidance c. Risk transferenceb. Risk acceptance d. Risk mitigation____ 17. ____ involves shifting the consequence of a risk and responsibility for its management to a third party.a. Risk avoidance c. Risk transferenceb. Risk acceptance d. Risk mitigation____ 18. ____ involves reducing the impact of a risk event by reducing the probability of its occurrence.a. Risk avoidance c. Risk transferenceb. Risk acceptance d. Risk mitigationEssay19. List and describe four methods for identifying risks.20. What are the four basic response strategies for negative risks? Describe each strategy.Project Management - Pre-Quiz Ch 11Answer SectionMULTIPLE CHOICE1. ANS: B PTS: 1 REF: 4282. ANS: A PTS: 1 REF: 4283. ANS: A PTS: 1 REF: 4294. ANS: A PTS: 1 REF: 4295. ANS: B PTS: 1 REF: 4306. ANS: C PTS: 1 REF: 4317. ANS: D PTS: 1 REF: 4328. ANS: D PTS: 1 REF: 4339. ANS: A PTS: 1 REF: 43310. ANS: D PTS: 1 REF: 43311. ANS: A PTS: 1 REF: 43412. ANS: D PTS: 1 REF: 43513. ANS: D PTS: 1 REF: 43714. ANS: C PTS: 1 REF: 44115. ANS: D PTS: 1 REF: 44516. ANS: A PTS: 1 REF: 45317. ANS: C PTS: 1 REF: 45318. ANS: D PTS: 1 REF: