PM Test Center » risk http://pmtestcenter.com FREE daily project management test questions for PMP®, CAPM®, and Project+ exams! Fri, 30 Jul 2010 04:01:03 +0000 en hourly 1 http://wordpress.org/?v=3.0 Anonymous consensus for risk identification http://pmtestcenter.com/anonymous-consensus-for-risk-identification/?utm_source=rss&utm_medium=rss&utm_campaign=anonymous-consensus-for-risk-identification http://pmtestcenter.com/anonymous-consensus-for-risk-identification/#comments Fri, 30 Jul 2010 04:01:03 +0000 Gabe Young http://pmtestcenter.com/?p=937 An anonymous way to reach a consensus of experts when identifying risks is:

A. Interviewing
B. Delphi technique
C. Root cause analysis
D. Brainstorming

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]]> http://pmtestcenter.com/anonymous-consensus-for-risk-identification/feed/ 0 Active acceptance response strategy http://pmtestcenter.com/active-acceptance-response-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=active-acceptance-response-strategy http://pmtestcenter.com/active-acceptance-response-strategy/#comments Wed, 28 Jul 2010 04:01:32 +0000 Gabe Young http://pmtestcenter.com/?p=908 You and your sponsor agree to actively accept the quality risk of using a non-certified engineer on the project. What will you be doing?

A. Nothing. You will only react if the risk event occurs.
B. Find a way to decrease the probability or impact of the risk.
C. Create a contingency plan in the event the risk event occurs.
D. Insure the risk so your company can be compensated if the risk event occurs.

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]]> http://pmtestcenter.com/active-acceptance-response-strategy/feed/ 0 Enhance risk response strategy http://pmtestcenter.com/enhance-risk-response-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=enhance-risk-response-strategy http://pmtestcenter.com/enhance-risk-response-strategy/#comments Fri, 23 Jul 2010 04:01:40 +0000 Gabe Young http://pmtestcenter.com/?p=867 One way to enhance a positive risk is:

A. Hiring another contractor to accelerate a project
B. Replacing a new employee with a more experienced one to ensure better quality
C. Buying insurance against weather impacting a construction schedule
D. Starting a task a few days later on the critical path

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]]> http://pmtestcenter.com/enhance-risk-response-strategy/feed/ 0 Exploit response strategy http://pmtestcenter.com/exploit-response-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=exploit-response-strategy http://pmtestcenter.com/exploit-response-strategy/#comments Mon, 19 Jul 2010 04:01:42 +0000 Gabe Young http://pmtestcenter.com/?p=916 While managing a project for a new playground, one of your team members uncovers an opportunity to exploit a risk. Most likely, he found a way to:

A. Increase the probability or impact of a risk
B. Ensure that a positive risk is realized
C. Decrease the probability of impact of a risk
D. Eliminate the threat entirely

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]]> http://pmtestcenter.com/exploit-response-strategy/feed/ 0 Exploit risk strategy http://pmtestcenter.com/exploit-risk-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=exploit-risk-strategy http://pmtestcenter.com/exploit-risk-strategy/#comments Sun, 11 Jul 2010 04:01:30 +0000 Gabe Young http://pmtestcenter.com/?p=848 The project is currently behind schedule and with the goal of catching up, you decide to ensure that you reduce the time. Which of the following is an example of exploiting the risk?

A. Assign the most experienced and most talented personnel on any task.
B. Assign the most experienced and most talented personnel on a critical task.
C. Buy insurance against the delay.
D. Find a logical partner to share the risk with.

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]]> http://pmtestcenter.com/exploit-risk-strategy/feed/ 0 Process for risk audits http://pmtestcenter.com/process-for-risk-audits/?utm_source=rss&utm_medium=rss&utm_campaign=process-for-risk-audits http://pmtestcenter.com/process-for-risk-audits/#comments Thu, 08 Jul 2010 04:01:23 +0000 Gabe Young http://pmtestcenter.com/?p=900 Risk audits are often used in which process?

A. Plan Risk Responses
B. Identify Risks
C. Plan Risk Management
D. Monitor and Control Risks

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]]> http://pmtestcenter.com/process-for-risk-audits/feed/ 0 Passive acceptance response strategy http://pmtestcenter.com/passive-acceptance-response-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=passive-acceptance-response-strategy http://pmtestcenter.com/passive-acceptance-response-strategy/#comments Wed, 07 Jul 2010 04:01:40 +0000 Gabe Young http://pmtestcenter.com/?p=913 You and your sponsor agree to passively accept the quality risk of using a non-certified engineer on the project. What will you be doing?

A. Nothing. You will only react if the risk event occurs.
B. Find a way to decrease the probability or impact of the risk.
C. Create a contingency plan in the event the risk event occurs.
D. Insure the risk so your company can be compensated if the risk event occurs.

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]]> http://pmtestcenter.com/passive-acceptance-response-strategy/feed/ 0 Transfer risk response strategy http://pmtestcenter.com/transfer-risk-response-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=transfer-risk-response-strategy http://pmtestcenter.com/transfer-risk-response-strategy/#comments Tue, 29 Jun 2010 04:01:56 +0000 Gabe Young http://pmtestcenter.com/?p=864 A good example of transferring a negative risk is:

A. Hiring another contractor to accelerate a project
B. Replacing a new employee with a more experienced one to ensure better quality
C. Buying insurance against weather impacting a construction schedule
D. Starting a task a few days earlier on the critical path

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]]> http://pmtestcenter.com/transfer-risk-response-strategy/feed/ 0 Avoid risk strategy http://pmtestcenter.com/avoid-risk-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=avoid-risk-strategy http://pmtestcenter.com/avoid-risk-strategy/#comments Sun, 27 Jun 2010 04:01:55 +0000 Gabe Young http://pmtestcenter.com/?p=845 A blizzard is scheduled to arrive at 8:00 AM next Monday, exactly when the department’s day-long conference is scheduled. Which of the following is an example of avoiding the risk?

A. Reschedule the meeting date to Tuesday.
B. Extending the meeting end time from 4:00 PM to 5:00 PM.
C. Switching the conference to a video teleconference.
D. Changing the start time from 8:00 AM to 9:00 AM.

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]]> http://pmtestcenter.com/avoid-risk-strategy/feed/ 0 Monte Carlo technique http://pmtestcenter.com/monte-carlo-technique/?utm_source=rss&utm_medium=rss&utm_campaign=monte-carlo-technique http://pmtestcenter.com/monte-carlo-technique/#comments Mon, 10 May 2010 04:01:07 +0000 Gabe Young http://pmtestcenter.com/?p=613 Your client requests that you to use a Monte Carlo technique for the project. What are you being asked to do?

A. Create a histogram that ranks risks.
B. Estimate cost and time results by executing the project many times through a simulator.
C. Ignore minor risks and take our chances.
D. Monitor cost variances and use contingency funds when necessary.

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