Chapter 11 IT Project Manager – Flashcards
Unlock all answers in this set
Unlock answersquestion
The psychology literature shows that individuals, working alone, produce fewer ideas than the same individuals produce through brainstorming in small, face-to-face groups.
answer
F
question
The risk register can be created with a simple Microsoft Word or Excel file.
answer
T
question
The risk register can be created with a simple Microsoft Word or Excel file.
answer
T
question
Quantitative risk analysis need not be done for projects that are large and complex.
answer
T
question
Identified risks may not materialize, or their probabilities of occurrence or loss may diminish.
answer
T
question
Unknown risks can be managed proactively.
answer
F
question
The last step in project risk management is deciding how to address this knowledge area for a particular project by performing risk management planning.
answer
F
question
A probability/impact matrix or chart lists the relative probability of a risk occurring on one side of a matrix or axis on a chart and the relative impact of the risk occurring on the other.
answer
T
question
The lower the earned monetary value calculation for a project, the chances of project success is higher.
answer
F
question
The Monte Carlo analysis can predict the probability of finishing by a certain date or the probability that the cost will be equal to or less than a certain value.
answer
T
question
A _____ is a technique used to show the effects of changing one or more variables on an outcome.
answer
sensitivity analysis
question
Identifying risks is a subprocess of the _____ process of project risk management.
answer
planning
question
_____ involves doing whatever you can to make sure the positive risk happens.
answer
Risk exploitation
question
_____ involves shifting the consequence of a risk and responsibility for its management to a third party.
answer
Risk transference
question
_____ involves changing the size of the opportunity by identifying and maximizing key drivers of the positive risk.
answer
Risk enhancement
question
Unenforceable conditions or contract clauses and adversarial relations are risk conditions associated with the project _____ management knowledge area.
answer
procurement
question
_____ involves eliminating a specific threat, usually by eliminating its causes.
answer
Risk avoidance
question
_____ risks refer to those that are direct results of implementing risk responses.
answer
Secondary
question
Performing qualitative and quantitative risk analyses are subprocesses of the _____ process of project risk management.
answer
planning
question
A(n) _____ represents decision problems by displaying essential elements, including decisions, uncertainties, causality, and objectives, and how they influence each other.
answer
influence diagram
question
_____ applies to positive risks when the project team cannot or chooses not to take any actions toward a risk.
answer
Risk acceptance
question
_____ involves determining which risks are likely to affect a project and documenting the characteristics of each.
answer
Identifying risks
question
_____ involves prioritizing risks based on their probability and impact of occurrence.
answer
Performing qualitative risk analysis
question
_____ are predefined actions that the project team will take if an identified risk event occurs.
answer
Contingency plans
question
_____ is a fact-finding technique that can be used for collecting information in face-to-face, phone, e-mail, or instant-messaging discussions.
answer
Interviewing
question
A _____ person achieves a balance between risk and payoff.
answer
risk-neutral
question
The _____ lists the relative probability of a risk occurring and the relative impact of the risk occurring.
answer
probability/impact matrix
question
_____ are unplanned responses to risk events used when project teams do not have contingency plans in place.
answer
Workarounds
question
The degree of uncertainty an entity is willing to take on in anticipation of a reward is
answer
risk appetite
question
_____ involves numerically estimating the effects of risks on project objectives.
answer
Performing quantitative risk analysis
question
_____ involves deciding how to approach and plan the risk management activities for the project.
answer
Planning risk management
question
_____ involves allocating ownership of the risk to another party.
answer
Risk sharing
question
_____ are/is a qualitative risk analysis tool that maintains an awareness of risks throughout the life of a project in addition to identifying risks.
answer
Top Ten Risk Item Tracking
question
A(n) _____ is a diagramming analysis technique used to help select the best course of action in situations in which future outcomes are uncertain.
answer
decision tree
question
Risk utility rises at a decreasing rate for a _____ person.
answer
risk-averse
