An uncertain event or condition that, if it occurs, has a positive or negative effect on a project objectives is termed. A. Random Chance B. Disaster C. Risk

An uncertain event or condition that, if it occurs, has a positive or negative effect on a

project objectives is termed.

A. Random Chance

B. Disaster

C. Risk
by

1 Answer

Answer :

C. Risk
by

Related questions

Risk in project management is defined as A.An uncertain event that, if it occurs, has a positive effect on project objectives B.An uncertain event that, if it occurs, has a negative effect on project objectives C.An uncertain event that, if it occurs, has a positive or negative effect on project objectives D.An uncertain event that do not have any effect on project objectives

Description : Risk in project management is defined as  A.An uncertain event that, if it occurs, has a positive effect on project objectives  B.An uncertain event that, if it occurs, has a negative ... effect on project  objectives  D.An uncertain event that do not have any effect on project objectives

Last Answer : C.An uncertain event that, if it occurs, has a positive or negative effect on project  objectives

Which of the following statements about risk is true? Select one: a. Project risk focuses on identifying, assessing, and eliminating the risks on the project. b. Risk management is all about eliminating risk. c. Project risk is an uncertain event that, even if it occurs, has no effect on project objectives. d. There are no risk-free projects. e. Risk management involves identification, evaluation, and elevation of risk

Description : Which of the following statements about risk is true? Select one: a. Project risk focuses on identifying, assessing, and eliminating the risks on the project. b. Risk management is all ... are no risk-free projects. e. Risk management involves identification, evaluation, and elevation of risk

Last Answer : d. There are no risk-free projects.

All of the following statements are true regarding risk events except which one? Choose the least correct answer.A. Project risks are uncertain events. B. If risks occur, they can have a positive or negative effect on project objectives. C. Unknown risks are threats to the project objectives, and nothing can be done to plan for them. D. Risks that have more perceived rewards to the organization than the consequences of the risk should be accepted.

Description : All of the following statements are true regarding risk events except which one?  Choose the least correct answer. A. Project risks are uncertain events.  B. If risks occur, they can ... that have more perceived rewards to the organization than the consequences of  the risk should be accepted.

Last Answer : C. Unknown risks are threats to the project objectives, and nothing can be done to  plan for them.

Which one of the following best describes a project issue? a. A major problem that requires formal escalation. b. A problem that the project manager has to deal with on a day-to-day basis. c. An uncertain event that may or may not occur. d. An opportunity that occurs through change control.

Description : Which one of the following best describes a project issue? a. A major problem that requires formal escalation. b. A problem that the project manager has to deal with on a day-to-day basis. c. An uncertain event that may or may not occur. d. An opportunity that occurs through change control.

Last Answer : a. A major problem that requires formal escalation.

Which one of the following best describes a project issue? a. A major problem that requires formal escalation. b. A problem that the project manager has to deal with on a day-to-day basis. c. An uncertain event that may or may not occur. d. An opportunity that occurs through change control.

Description : Which one of the following best describes a project issue?  a. A major problem that requires formal escalation.  b. A problem that the project manager has to deal with on a day-to-day basis.  c. An uncertain event that may or may not occur.  d. An opportunity that occurs through change control.

Last Answer : a. A major problem that requires formal escalation.

Fill in the blank. There is _______ correlation between project complexity and project risk. Select one:a. an unknown b. a positive c. no d. a negative e. a general

Description : Fill in the blank. There is _______ correlation between project complexity  and project risk. Select one: a. an unknown b. a positive c. no d. a negative e. a general

Last Answer : b. a positive

The process of assessing the probability and consequences of identified risks to the project objectives, assigning a risk score to each risk, and creating a list of prioritized risks describes which of the following processes? A. Quantitative Risk Analysis B. Risk Identification C. Qualitative Risk Analysis D. Risk Management Planning

Description : The process of assessing the probability and consequences of identified risks to the project objectives, assigning a risk score to each risk, and creating a list of prioritized risks describes ... Risk Analysis B. Risk Identification C. Qualitative Risk Analysis D. Risk Management Planning

Last Answer : C. Qualitative Risk Analysis

PERT chart can be used to track the tasks of a project when task time estimates are fairly uncertain.

Description : PERT chart can be used to track the tasks of a project when task time estimates are  fairly uncertain.

Last Answer : Ans: True

An Expected Monetary Value (EMV) of $100000 on a potential project event in the project means which of the following? Select one: a. A number that can be ignored b. An opportunity that must be explored c. Actual losses on the event d. Actual investment returns on the event e. A threat that must be considered to minimize the project risk

Description : An Expected Monetary Value (EMV) of $100000 on a potential project event in the  project means which of the following? Select one: a. A number that can be ignored b. An opportunity that ... Actual investment returns on the event e. A threat that must be considered to minimize the project risk

Last Answer : b. An opportunity that must be explored

Fill in the blank. Risk represents the likelihood that an event will happen during the life of the project that will negatively affect the ________________ of project goals. Select one: a. scope creep b. achievement c. float d. rough order of magnitude e. slack

Description : Fill in the blank. Risk represents the likelihood that an event will happen during  the life of the project that will negatively affect the ________________ of project goals. Select one: a. scope creep b. achievement c. float d. rough order of magnitude e. slack

Last Answer : b. achievement

Risk Event Graph is having following on X axis A.Gantt Chart B.Work Break Down Structure C.Project Life Cycle D.Splitting

Description : Risk Event Graph is having following on X axis  A.Gantt Chart  B.Work Break Down Structure  C.Project Life Cycle  D.Splitting

Last Answer : C.Project Life Cycle

Political unrest, budget overruns, size and complexity of the project Answer: B (8)Decision trees are best used for : 1. Determining the interaction of the amount at stake and the expected value 2. Association of the probabilities with the risk events 3. An illustration of how to see the interactions between decisions and the associated events 4. A flow chart which determines the standard deviation of the risk event

Description : Political unrest, budget overruns, size and complexity of the project  Answer: B  (8)Decision trees are best used for : 1. Determining the interaction of the amount at stake and the expected ... and the associated events  4. A flow chart which determines the standard deviation of the risk event

Last Answer : 3. An illustration of how to see the interactions between decisions and the associated events

The Three attributes of project risk are _________, ___________ and ___________. 1. What might happen, who it happens to, and how much will it cost 2. Notification, frequency of5. Risk event, probability occurrence, the amount at stake relevant events, probability of occurrence 3. Risk cost, quality, control 4. Quality, risk planning, total number of risk events

Description : The Three attributes of project risk are _________, ___________ and ___________. 1. What might happen, who it happens to, and how much will it cost  2. Notification, frequency of relevant events, ... planning, total number of risk events 5. Risk event, probability occurrence, the amount at stake

Last Answer : 5. Risk event, probability occurrence, the amount at stake

In project management, which of the following is NOT a method of reducing the impact of an unexpected event? (A) Risk avoidance (B) Risk sharing (C) Risk transfer (D) Risk elimination

Description : In project management, which of the following is NOT a method of reducing the impact of an unexpected event? (A) Risk avoidance (B) Risk sharing (C) Risk transfer (D) Risk elimination

Last Answer : D) Risk elimination

The cost impact of a risk event occurring as a project proceeds through its life cycle tends to A. Slowly rise B. Slowly drop C. Drop sharply and then level out D. Rise sharply and then level out

Description : The cost impact of a risk event occurring as a project proceeds through its life cycle tends to A. Slowly rise B. Slowly drop C. Drop sharply and then level out D. Rise sharply and then level out

Last Answer : A. Slowly rise

Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future condition or event based on information or knowledge available now. c. The value of useful work done at any given point in a project to give a measure of progress. d. A situation that affects or influences the outcome of the project expressed in time or cost terms

Description : Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future ... . A situation that affects or influences the outcome of the project expressed in time or cost terms

Last Answer : a. An approximation of project time and cost targets, refined throughout the project life cycle.

Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future condition or event based on information or knowledge available now. c. The value of useful work done at any given point in a project to give a measure of progress. d. A situation that affects or influences the outcome of the project expressed in time or cost terms.

Description : Which one of the following statements best defines an estimate?  a. An approximation of project time and cost targets, refined throughout the project life  cycle.  b. A prediction of a future ... . A situation that affects or influences the outcome of the project expressed in time or cost terms.

Last Answer : a. An approximation of project time and cost targets, refined throughout the project life  cycle.

Why is it important to understand your Stakeholders? A. They may work in a different department or company B. They may have different technical backgrounds C. They may not care about the project D. They can be a positive or negative influence on the project (Ans.)

Description : Why is it important to understand your Stakeholders?  A. They may work in a different department or company B. They may have different technical backgrounds C. They may not care about the project D. They can be a positive or negative influence on the project (Ans.)

Last Answer : D. They can be a positive or negative influence on the project (Ans.)

Identify the incorrect statement in connection with working capital management. A. Long-term funds are more expensive than short-term funds but also riskier B. The objectives of working capital management are profitability and liquidity C. Permanent current assets should be financed from long-term sources if a moderate or matching policy is adopted D. Conservative financing policies use short-term funds to finance only part of fluctuating current assets E. Aggressive financing policies increase profitability at the cost of higher risk

Description : Identify the incorrect statement in connection with working capital management. A. Long-term funds are more expensive than short-term funds but also riskier B. The objectives of ... fluctuating current assets E. Aggressive financing policies increase profitability at the cost of higher risk

Last Answer : A. Long-term funds are more expensive than short-term funds but also riskier

Which of the following statements is true of Insured Asset Allocation? A. It is aimed at benefiting from short-term under pricing and over pricing of assets. B. In this strategy the risk tolerance of the investor are ignored. C. In this strategy long-term predictions regarding the capital markets are used. D. In this strategy the asset mix is held constant. E. It is a strategy aimed at achieving the objectives of the investor without depending on market timing.

Description : Which of the following statements is true of Insured Asset Allocation? A. It is aimed at benefiting from short-term under pricing and over pricing of assets. B. In this strategy the risk ... . It is a strategy aimed at achieving the objectives of the investor without depending on market timing

Last Answer : E. It is a strategy aimed at achieving the objectives of the investor without depending on market timing.

The project life cycle consists of (A) Understanding the scope of the project (B) Objectives of the project (C) Formulation and planning various activities (D) All of the above

Description : The project life cycle consists of (A) Understanding the scope of the project (B) Objectives of the project (C) Formulation and planning various activities (D) All of the above

Last Answer : (D) All of the above

. A key aspect of managing a project involves: a. definingb. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives which operational systems to put in place.

Description : . A key aspect of managing a project involves: a. defining which operational systems to put in place. b. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives

Last Answer : d. planning to achieve defined objectives.

Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to enable benefits to be realised. c. to take ultimate accountability for the delivery of the business benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Description : Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to ... benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Last Answer : b. to deliver the project objectives to enable benefits to be realised.

What is the first step in project planning? Select one: a. Establish the objectives and scope. b. Determine the budget. c. Select the team organizational model. d. Determine project constraints. e. Inspect the deliverables.

Description : What is the first step in project planning? Select one: a. Establish the objectives and scope. b. Determine the budget. c. Select the team organizational model. d. Determine project constraints. e. Inspect the deliverables.

Last Answer : a. Establish the objectives and scope.

What is the first step in project planning? Select one: a. Establish the objectives and scope. b. Determine the budget. c. Select the team organizational model. d. Determine project constraints. e. Inspect the deliverables.

Description : What is the first step in project planning? Select one: a. Establish the objectives and scope. b. Determine the budget. c. Select the team organizational model. d. Determine project constraints. e. Inspect the deliverables.

Last Answer : a. Establish the objectives and scope.

A ____ of activities that are used to achieve the project’s goals or objectives is known as the project life cycle.

Description : A ____ of activities that are used to achieve the project’s goals or objectives is known as  the project life cycle.

Last Answer : Ans. Rational order

Which of the following items should not be includedb) Detailed schedules, budgets and resource allocations c) The life cycle model to be used d) The organisational structure of the development organisation, project responsibilities, managerial objectives and priorities e) None of the above. in the project management plan? a) The techniques and case tools to be used

Description : Which of the following items should not be included in the  project management plan? a) The techniques and case tools to be used b) Detailed schedules, budgets and resource ... development  organisation, project responsibilities, managerial  objectives and priorities e) None of the above.

Last Answer : c) The life cycle model to be used

The project life cycle consists of (A)Understanding the scope of the project (B)Objectives of the project (C)Formulation and planning various activities (D)All of the above

Description : The project life cycle consists of (A)Understanding the scope of the project (B)Objectives of the project (C)Formulation and planning various activities (D)All of the above

Last Answer : (D)All of the above

Boehm suggests an approach that addresses project objectives, milestones and schedules, responsibilities, management and technical approaches and required resources, This principle is called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Description : Boehm suggests an approach that addresses project objectives,  milestones and schedules, responsibilities, management and  technical approaches and required resources, This principle is  called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Last Answer : c. W5HH principle

Which of these characteristics are used to determine the scope of a project? a. Only performance. b. Only context. c. Information objectives, function, performance d. None of the above.

Description : Which of these characteristics are used to determine the scope of a project? a. Only performance. b. Only context. c. Information objectives, function, performance d. None of the above.

Last Answer : c. Information objectives, function, performance

In resource allocation, the resources are allocated to a project in order that the…...............are attained a. Goals b. Objectives c. Both a, b d. None of the above

Description : In resource allocation, the resources are allocated to a project in  order that the…...............are attained a. Goals b. Objectives c. Both a, b d. None of the above

Last Answer : c. Both a, b

The document that describes the project’s objectives and rules is called the project charter.

Description : The document that describes the project’s objectives and rules is called the project  charter.

Last Answer : Ans: True

A key factor in staffing a project involves motivating people to meet the project’s objectives, and the most effective way to do this is through the use of money and bonuses.

Description :  A key factor in staffing a project involves motivating people to meet the project’s  objectives, and the most effective way to do this is through the use of money and bonuses.

Last Answer : Ans: False

All of the following statements are true regarding risks except for which one? Choose the least correct answer. A. Risks might be threats to the objectives of the project. B. Risks are certain events that may be threats or opportunities to the objectives of the project. C. Risks might be opportunities to the objectives of the project. D. Risks have causes and consequences.

Description : All of the following statements are true regarding risks except for which one? Choose the least correct answer.  A. Risks might be threats to the objectives of the project.  B. Risks are ... Risks might be opportunities to the objectives of the project.  D. Risks have causes and consequences.

Last Answer : B. Risks are certain events that may be threats or opportunities to the objectives of  the project

In which of the following stages are project objectives established, teams formed, and major responsibilities assigned? A. Conceptualizing B. Defining (Ans.) C. Planning D. Executing

Description : In which of the following stages are project objectives established, teams formed, and  major responsibilities assigned?  A. Conceptualizing  B. Defining (Ans.) C. Planning  D. Executing

Last Answer : B. Defining (Ans.)

A key aspect of managing a project involves: a. defining which operational systems to put in place. b. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives.

Description : A key aspect of managing a project involves:  a. defining which operational systems to put in place. b. identifying routine tasks.  c. ensuring ongoing operations are maintained.  d. planning to achieve defined objectives.

Last Answer : d. planning to achieve defined objectives.

Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to enable benefits to be realised. c. to take ultimate accountability for the delivery of the business benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Description : Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time.  b. to deliver the project objectives to ... benefits.  d. to delegate all accountability for managing time, cost and quality to team leaders.

Last Answer : b. to deliver the project objectives to enable benefits to be realised.

When developing a project's scope statement, which of the following should not be included? 1. Project justification. 2. Cost/benefit analysis 3. Project deliverables 4. Measurable objectives

Description : When developing a project's scope statement, which of the following should not be  included? 1. Project justification.  2. Cost/benefit analysis  3. Project deliverables  4. Measurable objectives

Last Answer : 1. Project justification.

A Project control system: 1. Monitors and controls the project's schedule, costs, scope, budgets etc 2. Is a mechanism which reacts to the current project status in order to endure accomplishment of project objectives 3. Is only needed on large mega projects 4. Is a system for controlling and executing project documentation in an uniform and timely manner

Description : A Project control system: 1. Monitors and controls the project's schedule, costs, scope, budgets etc  2. Is a mechanism which reacts to the current project status in order to endure ... 4. Is a system for controlling and executing project documentation in an uniform and timely  manner

Last Answer : 1. Monitors and controls the project's schedule, costs, scope, budgets etc

The Scope Statement should contain which of the following? 1. Project schedule 2. Project budget constraints 3. Summary of project tasks , deliverables and resources required 4. Project objectives

Description : The Scope Statement should contain which of the following? 1. Project schedule  2. Project budget constraints  3. Summary of project tasks , deliverables and resources required  4. Project objectives

Last Answer : 4. Project objectives

Which of the following can cause a communication barrier? 1. Differing perceptions as to project goals and objectives 2. Insufficient action on the part of the project manager3. Competition for facilities, equipment, material, manpower and other resources 4. Personality conflicts between managers and/ or other personnel 5. Resistance to change 6. All of the above

Description : Which of the following can cause a communication barrier? 1. Differing perceptions as to project goals and objectives  2. Insufficient action on the part of the project manager 3. Competition for ... between managers and/ or other personnel  5. Resistance to change  6. All of the above

Last Answer : 6. All of the above

On a project the project manager should strive for a "Quality Level" that : 1. is the highest level possible 2. is as close to the project objectives as possible 3. represents the least cost to the project. 4. Exceeds the specified requirements of the project.

Description : On a project the project manager should strive for a "Quality Level" that : 1. is the highest level possible  2. is as close to the project objectives as possible  3. represents the least cost to the project.  4. Exceeds the specified requirements of the project.

Last Answer : 2. is as close to the project objectives as possible

A project charter does not include ____ of the project. (A) scope (B) objectives (C) team (D) all above are included

Description : A project charter does not include ____ of the project. (A) scope (B) objectives (C) team (D) all above are included

Last Answer : (D) all above are included

The project life cycle consists of A. Understanding the scope of the project B. Objectives of the project C. Formulation and planning various activities D. All of the above

Description : The project life cycle consists of A. Understanding the scope of the project B. Objectives of the project C. Formulation and planning various activities D. All of the above

Last Answer : D. All of the above

A project has a 60% chance of a $100,000 profit and a 40 per cent of a US $100,000 loss. The Expected Monetary Value for the project is A. $100,000 profit B. $60,000 loss C. $ 20,000 profit D. $40,000 loss

Description :  A project has a 60% chance of a $100,000 profit and a 40 per cent of a US $100,000  loss. The Expected Monetary Value for the project is  A. $100,000 profit  B. $60,000 loss  C. $ 20,000 profit  D. $40,000 loss

Last Answer : C. $ 20,000 profit

Work that continues throughout the project and does not relate to any specific phase of development is termed a(n) a) Milestone b) Project function c) Activity d) Task e) Baseline.

Description : Work that continues throughout the project and does not relate to  any specific phase of development is termed a(n) a) Milestone b) Project function c) Activity d) Task e) Baseline.

Last Answer : b) Project function

In the project management theory, balancing scope, schedule, and cost goals is often termed as (A) triangular dilemma (B) triple constraint (C) fundamental trade-off (D) project portfolio management

Description : In the project management theory, balancing scope, schedule, and cost goals is often termed as (A) triangular dilemma (B) triple constraint (C) fundamental trade-off (D) project portfolio management

Last Answer : (B) triple constraint

A process that involves continuously improving and detailing a plan as more detail become available is termed as (A) project analysis (B) project enhancing (C) progressive deliberation (D) progressive elaboration

Description : A process that involves continuously improving and detailing a plan as more detail become  available is termed as (A) project analysis (B) project enhancing (C) progressive deliberation (D) progressive elaboration

Last Answer : (D) progressive elaboration

Constantine suggests four “organizational paradigms” for engineering teams. The best project team organizational model to use when handling extremely complex problems is a. Random paradigm b. Open paradigm c. Synchronous paradigm d. Closed paradigm

Description : Constantine suggests four “organizational paradigms” for  engineering teams. The best project team organizational model to use when handling extremely complex problems is  a. Random paradigm b. Open paradigm c. Synchronous paradigm d. Closed paradigm

Last Answer : a. Random paradigm