MILLIONAIRE QUIZ - Risk Planning
Charbel Azar
Created on December 12, 2023
Risk Planning
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Transcript
START
QUIZ ABOUT
RISK MANAGEMENT
1. What is Project Risk Management?
The process of identifying, assessing, & mitigating potential risks that could impact a project’s success
A
The process of selecting the right projects for an organization
B
The process of managing resources to complete a project
C
The process of creating a project schedule
D
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GOODLUCK!
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2. Why is Project Risk Management important?
It ensures that all projects are completed on time
A
It prevents any risks from occurring during a project
B
It reduces the need for project planning
C
It increases the likelihood of project success by addressing uncertainties proactively
D
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3. Which of the following is an example of a project risk?
Completion of project milestones ahead of schedule
A
Availability of highly skilled project team members
B
Changes in project scope during execution
C
Early completion of project deliverables
D
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4. Which risk response strategy involves taking action to eliminate a risk or its impact?
Risk Transfer
A
Risk Acceptance
B
Risk Avoidance
C
Risk Mitigation
D
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5. What is the purpose of a risk register in Project Risk Management?
To document all identified risks and their characteristics
A
To track the progress of a project
B
To serve as a project schedule
C
To manage project resources
D
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6. When should risk identification take place in a project?
Only at the beginning of the project
A
Continuously throughout the project lifecycle
B
Only at the end of the project
C
Once the project is complete
D
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7. Which risk response strategy involves shifting the impact of a risk to a third party?
Risk Avoidance
A
Risk Transfer
B
Risk Mitigation
C
Risk Acceptance
D
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8. Risks are evaluated in terms of:
Probability & Impact
A
Cost & Schedule
B
Cost & Impoact
C
Probability & Schedule
D
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9. Who should be involved in the Risk Management of a project?
Project team members only
A
Only Senior Project Managers
B
Everyone except the client.
C
As many stakeholders as possible.
D
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10. Identifying risks is a subprocess of which process of project risk management?
Executing
A
Planning
B
Closing
C
Monitoring & Controlling
D
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WRONG!
YOU WIN!
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WELL DONE!
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