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

1 Answer

Answer :

d. Risks are identified with each major group of activities.

Related questions

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.

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.

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

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

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

Description : During which stage of Risk planning are risks prioritized based on probability and impact? a. Identify Risks b. Plan Risk responses c. Perform Qualitative risk analysis d. Perform Quantitative risk analysis

Last Answer : c. Perform Qualitative risk analysis

Description : During which stage of Risk planning are risks prioritized based on probability and impact? a. Identify Risks b. Plan Risk responses c. Perform Qualitative risk analysis d. Perform Quantitative risk analysis

Last Answer : c. Perform Qualitative risk analysis

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.

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

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.

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

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.

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 ... 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.

Description :  During a new project planning process to sequence activities, the project  manager, Nate, decides to use the precedence diagraming method to show the  identified activity dependencies. Which of the following logical ... -finish c. Finish-to-finish d. Start-to-start e. All of these answers

Last Answer : b. Start-to-finish

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

Description : Once project planning is complete, project managers document their plan in A. SPMP document B. SRS document C. Detailed Design document D. Excel Sheet

Last Answer : A. SPMP document

Description : Project management is the second major component of the planning phase of the  systems development life cycle (SDLC), and it includes three steps: creating the work  plan, staffing the project, and controlling and directing the project.

Last Answer : Ans: True

Description : Which of the following statements is true regarding contracts? Select one: a. They are the filters through which project members screen information that is shared. b. They do not lend ... information-rich  environment will suffer. e. Contracts promote the growth of a trusting project culture.

Last Answer : b. They do not lend themselves to create an environment of trust.

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.

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.

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.

Description : Each of the following statements is true regarding the risk management plan except  for which one?  A. The risk management plan is an output of the Risk Management Planning process. B. The risk ... and budgets. D. The risk management plan is an input to all the remaining risk-planning processes.

Last Answer : B. The risk management plan includes a description of the responses to risks and  triggers.

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

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

Description : For the best model suitable for the project, in which of the phase  the developers decide a roadmap for project plan? a. Design b. System Analysis c. Coding d. Testing

Last Answer : b. System Analysis

Description :  According to PMBOK, project management process groups are iterative, which  was originally defined by Walter Shewhart and later modified by Edward Deming.  Generally, one outcome from a previous process can serve ... -Do-Check-Act cycle c. Project phases d. PM processes e. HR process cycle

Last Answer : b. Plan-Do-Check-Act cycle

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

Description : A simple way of looking at the spiral life-cycle model is as a waterfall model with each phase proceeded by a) Build-and-fix b) Freezing c) Synchronization d) Testing e) Risk analysis

Last Answer : e) Risk analysis

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

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.

Description : )The total amount of risk that is calculated for a project is found by 1. Multiplying the sum of each the risk times the amount at stake 2. Calculating the cumulative sum of the probability for ... 3. Cannot be calculated since all risks are not know  4. The amount of project reserves available

Last Answer : 2. Calculating the cumulative sum of the probability for each risk and multiplying this value times the consequence of occurrence of the risk events

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.

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.

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

Description : What is the most accurate method of obtaining project information that can reduce the amount  of risk? 1. Observations on the current project  2. Determining the risk by using brainstorming ... from previous projects that were similar in nature  4. Sensitivity analysis  5. Delphi technique.

Last Answer : 3. The use of historical data from previous projects that were similar in nature

Description : Which one of the following is a responsibility of the project steering group/board? a. To identify potential problems for the project team to solve. b. To provide strategic direction and guidance ... project team in all daily activities. d. To receive and consider daily reports from team members.

Last Answer : b. To provide strategic direction and guidance to the sponsor.

Description : Which one of the following is a responsibility of the project steering group/board?  a. To identify potential problems for the project team to solve.  b. To provide strategic direction and ... project team in all daily activities. d. To receive and consider daily reports from team members.

Last Answer : b. To provide strategic direction and guidance to the sponsor.

Description : A(n) _ is a review of the quality plan, procedures, data collection, and analysis by  an outside group. Select one: a. scope document b. project appraisal c. cost performance index d. analogous estimate e. quality audit

Last Answer : e. quality audit

Description : Which of the following processes assesses the likelihood of risk occurrences and their consequences using a numerical rating? A. Qualitative Risk Analysis B. Risk Identification C. Quantitative Risk Analysis D. Risk Response Planning

Last Answer : C. Quantitative Risk Analysis

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.

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.

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.

Description : When a project manager starts to plan a new project budget, the cost  of which project management process group is expected to be lowest? Select one: a. Initiating b. Executing c. Monitoring and controlling d. Closing e. Planning

Last Answer : d. Closing

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

Description : Traditional Work Breakdown Structures tend to  a. focus on the design of the system as oppose to the needs of the current phase and  iteration  b. force too many levels of detail early on for large ... project and difficult to compare across projects  d. all of the above  e. none of the above

Last Answer : d. all of the above