“Risk” is usually _______ as the project progresses. (A) increases (B) reduces (C) remains same (D) becomes negligible

“Risk” is usually _______ as the project progresses.

(A) increases

(B) reduces

(C) remains same

(D) becomes negligible
by

1 Answer

Answer :

(B) reduces
by

Related questions

Complete the following statement. As the project progresses into the execution phase: Select one: a. risks need to be checked off on activities that have been performed. b. the total risk on the project typically increases. c. risks are identified with each major group of activities. d. a risk response plan can be used to identify increasing levels of detailed risk analysis. e. the risk breakdown structure needs to be examined to be sure all the risk events have been avoided.

Description : Complete the following statement. As the project progresses into the  execution phase: Select one: a. risks need to be checked off on activities that have been performed. b. the total risk on ... risk breakdown structure needs to be examined to be sure all the risk events have  been avoided.

Last Answer : a. risks need to be checked off on activities that have been performed.

The accuracy of an estimate should: a. decrease as a project progresses through its life cycle. b. increase as a project progresses through its life cycle. c. stay constant throughout the project life cycle. d. vary independently of where the project is in its life cycle.

Description : The accuracy of an estimate should: a. decrease as a project progresses through its life cycle. b. increase as a project progresses through its life cycle. c. stay constant throughout the project life cycle. d. vary independently of where the project is in its life cycle.

Last Answer : b. increase as a project progresses through its life cycle.

Estimates from the planning stage will need to be refined as the project progresses, because it is virtually impossible to develop an exact assessment of the project’s schedule before the analysis and design phases are conducted.

Description : Estimates from the planning stage will need to be refined as the project progresses,  because it is virtually impossible to develop an exact assessment of the project’s schedule  before the analysis and design phases are conducted.

Last Answer : Ans: True

The accuracy of an estimate should: a. decrease as a project progresses through its life cycle. b. increase as a project progresses through its life cycle. c. stay constant throughout the project life cycle. d. vary independently of where the project is in its life cycle.

Description : The accuracy of an estimate should:  a. decrease as a project progresses through its life cycle.  b. increase as a project progresses through its life cycle.  c. stay constant throughout the project life cycle.  d. vary independently of where the project is in its life cycle.

Last Answer : b. increase as a project progresses through its life cycle.

Once the project is approved and moves into the planninb. The total risk on the project typically reduces as activities are performed without loss. c. Risks must be weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. d. Risks are identified with each major group of activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysisg stage, what happens in the next phase of the project life cycle? Select one: a. Agreements for risk sharing need to be concluded.

Description : Once the project is approved and moves into the planning stage, what happens  in the next phase of the project life cycle? Select one: a. Agreements for risk sharing need to be concluded. ... activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysis

Last Answer : d. Risks are identified with each major group of activities.

Once the project is approved and moves into the planning stage, what happens in the next phase of the project life cycle?Select one: a. Agreements for risk sharing need to be concluded. b. The total risk on the project typically reduces as activities are performed without loss. c. Risks must be weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. d. Risks are identified with each major group of activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysis

Description : Once the project is approved and moves into the planning stage, what  happens in the next phase of the project life cycle? Select one: a. Agreements for risk sharing need to be concluded. ... activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysis

Last Answer : d. Risks are identified with each major group of activities.

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

A Unit Price (UP) contract provides: 1. a reimbursement of allowable costs plus a fixed fee which is paid proportionately as the contract progresses 2. a reimbursement of allowable cost of services performed plus an agreed upon percentage of the estimated cost as profit 3. the supplier with a fixed price for delivered performance plus a predetermined fee for superior performance 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the final price is dependent on the quantities needed to carry out the work.

Description : A Unit Price (UP) contract provides: 1. a reimbursement of allowable costs plus a fixed fee which is paid proportionately as the  contract progresses  2. a reimbursement of allowable cost of services ... unit rates and the  final price is dependent on the quantities needed to carry out the work.

Last Answer : 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the  final price is dependent on the quantities needed to carry out the work

Resorce requirement in project becomes constant while the project is in its _____ progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Description : Resorce requirement in project becomes constant while the project is in its _____ progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Last Answer : (D) 80 to 95%

Resorce requirement in project becomes constant while the project is in its progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Description : Resorce requirement in project becomes constant while the  project is in its progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Last Answer : (D) 80 to 95%

The hurricane model implies that project estimates become more accurate as the project's product becomes better understood.

Description : The hurricane model implies that project estimates become more accurate as the  project's product becomes better understood.

Last Answer : Ans: True

All of the following are true regarding the Qualitative Risk Analysis process except which one? A. Probability and impact and expert interview are used to help correct biases that occC. Qualitative Risk Analysis is an easy method of determining risk probability and impact that usually takes a good deal of time to perform. D. Risk urgency assessment is a tool and technique of this process used to determine which risks need near-term response plans.ur in the data you’ve gathered during this process. B. The probability and impact matrix is used during this process to assign red, yellow, and green conditions to risks.

Description : All of the following are true regarding the Qualitative Risk Analysis process except  which one?  A. Probability and impact and expert interview are used to help correct biases that occur  in the data ... of this process used to determine  which risks need near-term response plans.

Last Answer : C. Qualitative Risk Analysis is an easy method of determining risk probability and  impact that usually takes a good deal of time to perform.

The main aim of a project risk management process should be to: a. identify project risks and then manage them appropriately. b. identify all project risks and transfer them immediately. c. identify all the things that are threats or opportunities on a project. d. satisfy the organization’s project management process.

Description : The main aim of a project risk management process should be to: a. identify project risks and then manage them appropriately. b. identify all project risks and transfer them immediately. c ... are threats or opportunities on a project. d. satisfy the organization's project management process.

Last Answer : a. identify project risks and then manage them appropriately.

Who has ultimate responsibility for project risk? a. Steering group. b. Risk owner. c. Project sponsor. d. Project manager.

Description : Who has ultimate responsibility for project risk? a. Steering group. b. Risk owner. c. Project sponsor. d. Project manager.

Last Answer : c. Project sponsor.

The main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of alternative options. b. ensure the project sponsor has tight control of the project manager’s activity. c. document the outcomes of the planning process and provide the reference document for managing the project. d. document the outcome of the risk, change and configuration management processes.

Description : The main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of  alternative options. b. ensure ... the  project. d. document the outcome of the risk, change and configuration management processes.

Last Answer : c. document the outcomes of the planning process and provide the reference document for managing the  project.

A Responsibility Assignment Matrix (RAM) can be used to: a. define the terms of reference of the project manager. b. define the limits of the project sponsor’s responsibilities. c. allocate risk management response activities to project personnel. d. allocate work packages to those responsible for project work.

Description : A Responsibility Assignment Matrix (RAM) can be used to: a. define the terms of reference of the project manager. b. define the limits of the project sponsor's responsibilities. c ... response activities to project personnel. d. allocate work packages to those responsible for project work.

Last Answer : d. allocate work packages to those responsible for project work.

Which one of the following statements about the project risk register is false? a. It facilitates the review and monitoring of risks. b. It facilitates the risk appetite. c. It facilitates the recording of risk responses. d. It facilitates the recording of risks.

Description : Which one of the following statements about the project risk register is false? a. It facilitates the review and monitoring of risks. b. It facilitates the risk appetite. c. It facilitates the recording of risk responses. d. It facilitates the recording of risks.

Last Answer : b. It facilitates the risk appetite.

The main outcome of risk identification, in a risk management process, is to: a. identify and determine the relative importance of the project risks. b. identify and describe all risks that might occur on the project. c. identify and determine the responses to the project risks. d. identify and describe risks that have occurred on previous projects.

Description : The main outcome of risk identification, in a risk management process, is to: a. identify and determine the relative importance of the project risks. b. identify and describe all risks that ... responses to the project risks. d. identify and describe risks that have occurred on previous projects.

Last Answer : b. identify and describe all risks that might occur on the project.

Project risk management is best described as: a. managing responses to threats. b. identifying and acknowledging threats and opportunities. c. planning responses to threats. d. minimising threats and maximising opportunities.

Description : Project risk management is best described as: a. managing responses to threats. b. identifying and acknowledging threats and opportunities. c. planning responses to threats. d. minimising threats and maximising opportunities.

Last Answer : d. minimising threats and maximising opportunities.

Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Description : Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Last Answer : d. Risk Breakdown Structure.

Which of the following is the most important element ofA. Risk Management activities B. Quality Assurance activities C. Activity Resource requirements D. Budget Control activities Project Management Plan that is useful in HR Planning process:

Description :  Which of the following is the most important element of Project Management Plan that is useful in HR Planning process: A. Risk Management activities B. Quality Assurance activities C. Activity Resource requirements D. Budget Control activities

Last Answer : C. Activity Resource requirements

Which of the following is not considered as a risk in project management? a) Specification delays b) Product competition c) Testing d) Staff turnover

Description : Which of the following is not considered as a risk in project management? a) Specification delays b) Product competition c) Testing d) Staff turnover

Last Answer : c) Testing

Which of the following activity is not the part of project plaD. risk managementnning? A. project estimation B. project scheduling C. project monitoring

Description : Which of the following activity is not the part of project planning? A. project estimation B. project scheduling C. project monitoring D. risk management

Last Answer : C. project monitoring

Which of the following is not considered as a risk in project management? a) Specification delays b) Product competition c) Testing d) Staff turnover

Description : Which of the following is not considered as a risk in project management? a) Specification delays b) Product competition c) Testing d) Staff turnover

Last Answer : c) Testing

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

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.

Fill in the blank. Risk must be considered in the _____ phase and weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. Select one: a. completion b. closeout c. execution d. planning e. initiation

Description : Fill in the blank. Risk must be considered in the _____ phase and weighed against  the potential benefit of the project’s success in order to decide if the project should  be chosen. Select one: a. completion b. closeout c. execution d. planning e. initiation

Last Answer : e. initiation

What should be done by the project manager to ensure that all the work in the project is included? Select one: a. Create a contingency plan. b. Create a risk management plan. c. Create a WBS. d. Create a statement of work. e. Create a scope statement.

Description : What should be done by the project manager to ensure that all the work in the  project is included? Select one: a. Create a contingency plan. b. Create a risk management plan. c. Create a WBS. d. Create a statement of work. e. Create a scope statement.

Last Answer : c. Create a WBS.

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

What is the most critical aspect in developing a project plan that meets project specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk managemenc. Emphasizing error prevention and customer satisfaction d. Requiring commitment to quality by all the employees and business partners e. Developing a project execution plan that matches the complexity level of the projectt b. Providing documents that specifically comply with the quality standards in use

Description : What is the most critical aspect in developing a project plan that meets project  specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk management b ... business partners e. Developing a project execution plan that matches the complexity level of the project

Last Answer : e. Developing a project execution plan that matches the complexity level of the project

Fill in the blanks. It is during the ______________ phase that the decision should be made regarding whether the project should continue. During this phase, ____________ must be considered and weighed against the potential benefit of the project’s success. Select one: a. completion, cost b. closeout, resources c. execution, performance d. planning, timing e. initiation, risk

Description : Fill in the blanks. It is during the ______________ phase that the decision should be  made regarding whether the project should continue. During this phase, ____________  must be considered and weighed ... . closeout, resources c. execution, performance d. planning, timing e. initiation, risk

Last Answer : e. initiation, risk

What is the first step in developing a risk management plan? Select one: a. Analyze the risks. b. Estimate the likelihood of the risks occurring. c. Identify potential project risks. d. Develop a risk mitigation plan. e. Estimate the potential impact of risk on the project goals.

Description : What is the first step in developing a risk management plan? Select one: a. Analyze the risks. b. Estimate the likelihood of the risks occurring. c. Identify potential project risks. d. Develop a risk mitigation plan. e. Estimate the potential impact of risk on the project goals.

Last Answer : c. Identify potential project risks.

Which of the following is not considered as a risk in project management? a) Specification delays b) Product competition c) Testing d) Staff turnover

Description : Which of the following is not considered as a risk in project management? a) Specification delays b) Product competition c) Testing d) Staff turnover

Last Answer : c) Testing

You are working in CareerRide as a project manager. What will you do to minimize the risk of failure? a. Request a large budget b. You will increase the team size c. Track progress d. None of the above

Description : You are working in CareerRide as a project manager. What will you do to minimize the risk of failure? a. Request a large budget b. You will increase the team size c. Track progress d. None of the above

Last Answer : c. Track progress

Which of the following is not considered as a risk in project management? a. Specification delays b. Product competition c. Testing d. Staff turnover

Description : Which of the following is not considered as a risk in project management? a. Specification delays b. Product competition c. Testing d. Staff turnover

Last Answer : c. Testing

Which risk is connected to the circumstance outside the project that may influence the scope of work and the performance of the organization? A.Operational Risk B.Financial Risk C.Strategic Risk D.Contextual Risk

Description : Which risk is connected to the circumstance outside the project that may influence the  scope of work and the performance of the organization?  A.Operational Risk  B.Financial Risk  C.Strategic Risk  D.Contextual Risk

Last Answer : D.Contextual Risk

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

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

Monte Carlo analysis can help predict the impact of risks on project deliverables. This is an element of one of the tools and techniques of which of the following processes? A. Risk Response Planning B. Quantitative Risk Analysis C. Risk Identification D. Qualitative Risk Analysis

Description : Monte Carlo analysis can help predict the impact of risks on project deliverables.  This is an element of one of the tools and techniques of which of the following processes? A. Risk Response Planning B. Quantitative Risk Analysis C. Risk Identification D. Qualitative Risk Analysis

Last Answer : B. Quantitative Risk Analysis

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.

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

Once the logic of a network is laid out, the project manager will conduct a forward pass and a backward pass through the network. This will provide information regardiC. Resource shortages, high risk activities D. The high risk activities, non-critical pathng ______ and will identify the________. A. The total duration of the project, critical path B. The slack for each activity, high risk activities

Description :  Once the logic of a network is laid out, the project manager will conduct a forward  pass and a backward pass through the network. This will provide information regarding  ______ and will identify ... C. Resource shortages, high risk activities D. The high risk activities, non-critical path

Last Answer : A. The total duration of the project, critical path

Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Description : Andrew has joined as the Project Manager of a project. One of the project documents  available to Andrew lists down all the risks in a hierarchical fashion. What is this document  called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Last Answer : d. Risk Breakdown Structure.

Which of the following is the most important element of Project Management Plan that is useful in HR Planning process: A. Risk Management activities B. Quality Assurance activities C. Activity Resource requiremD. Budget Control activitiesents

Description : Which of the following is the most important element of Project Management Plan that is  useful in HR Planning process: A. Risk Management activities B. Quality Assurance activities C. Activity Resource requirements D. Budget Control activities

Last Answer : C. Activity Resource requirements

The main aim of a project risk management process should be to: a. identifies project risks and then manage them appropriately. b. identify all project risks and transfer them immediately. c. identify all the things that are threats or opportunities on a project. d. satisfy the organisation’s project management process.

Description : The main aim of a project risk management process should be to:  a. identifies project risks and then manage them appropriately.  b. identify all project risks and transfer them immediately.  ... are threats or opportunities on a project.  d. satisfy the organisation's project management process.

Last Answer : a. identifies project risks and then manage them appropriately.

Who has ultimate responsibility for project risk? a. Steering group. b. Risk owner. c. Project sponsor. d. Project manager.

Description : Who has ultimate responsibility for project risk?  a. Steering group.  b. Risk owner.  c. Project sponsor.  d. Project manager.

Last Answer : c. Project sponsor.

The main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of alternatd. document the outcome of the risk, change and configuration management processes.ive options. b. ensure the project sponsor has tight control of the project manager’s activity. c. document the outcomes of the planning process and provide the reference document for managing the project.

Description : The main purpose of the Project Management Plan is to:  a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk  of alternative options.  b ... managing the project. d. document the outcome of the risk, change and configuration management processes.

Last Answer : c. document the outcomes of the planning process and provide the reference document for  managing the project.

A Responsibility Assignment Matrix (RAM) can be used to: a. define the terms of reference of the project manager. b. define the limits of the project sponsor’s responsibilities. c. allocate risk management response activities to project personnel. d. allocate work packages to those responsible for project work.

Description : A Responsibility Assignment Matrix (RAM) can be used to:  a. define the terms of reference of the project manager.  b. define the limits of the project sponsor's responsibilities.  ... response activities to project personnel.  d. allocate work packages to those responsible for project work.

Last Answer : d. allocate work packages to those responsible for project work.