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

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
by

1 Answer

Answer :

3. An illustration of how to see the interactions between decisions and the associated events
by

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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.

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)In a program or project plan, there are always revisions to account for new or missing data. Which one of the following provides the best reason for performing a revision of the plan? 1. A supplier has changed the way their product is delivered to your supplier 2. Project tasks are crashed to meet their end dates 3. Human resources will remain constant through out the project 4. Historical data on a similar project suggests that risk events are not included in the current plan.

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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

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When is the project's amount at stake the lowest 1. conceptual 2. design 3. close-out 4. implementation

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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

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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

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Last Answer : b. achievement

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

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

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

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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

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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

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If the expected time for completion of a project is 10 days with a standard deviation of 2 days, the expected time of completion of the project with 99.9% probability is (A) 4 days (B) 6 days (C) 10 days (D) 16 day

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If the expected time of completion of a project is 60 weeks with a standard deviation of 5 weeks, the probability of completing the project in 50 weeks and 65 weeks respectively will be (A) 2.3% and 84.1% (B) 97.7% and 84.1% (C) 97.7 % and 15.9% (D) 15.9% and 97.7%

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Last Answer : (A) 2.3% and 84.1%

Which of the following statements is correct for a conservative financing policy for a firm relative to a former aggressive policy? A. The firm uses long-term financing to finance all fixed and current assets. B. The firm will see an increase in its expected profits. C. The firm will see an increase in its risk profile. D. The firm will increase its dividends per share (DPS) this period.

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Which of the following is NOT an example of a political risk? a) Government regulations b) Cost of production c) War d) Civil unrest

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Which of the following project baselines provides the basis for measurement of the expected cash flow against requirements over time and is often displayed as an S curve? Select one: a. Schedule baseline b. Cost performance baseline c. Scope baseline d. Plan baseline e. Initiation baseline

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Using the shortcut method to determine the complexity of a systems project, a very complex system having 300 unadjusted function points would have 405 adjust function points.

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