MILLIONAIRE QUIZ - Risk Planning

RISK MANAGEMENT

QUIZ ABOUT

START

GOODLUCK!

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The process of creating a project schedule

The process of managing resources to complete a project

The process of selecting the right projects for an organization

The process of identifying, assessing, & mitigating potential risks that could impact a project’s success

1. What is Project Risk Management?

WRONG!

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It increases the likelihood of project success by addressing uncertainties proactively

It reduces the need for project planning

It prevents any risks from occurring during a project

It ensures that all projects are completed on time

2. Why is Project Risk Management important?

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Early completion of project deliverables

Changes in project scope during execution

Availability of highly skilled project team members

Completion of project milestones ahead of schedule

3. Which of the following is an example of a project risk?

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Risk Mitigation

Risk Avoidance

Risk Acceptance

Risk Transfer

4. Which risk response strategy involves taking action to eliminate a risk or its impact?

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To manage project resources

To serve as a project schedule

To track the progress of a project

To document all identified risks and their characteristics

5. What is the purpose of a risk register in Project Risk Management?

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Once the project is complete

Only at the end of the project

Continuously throughout the project lifecycle

Only at the beginning of the project

6. When should risk identification take place in a project?

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Risk Acceptance

Risk Mitigation

Risk Transfer

Risk Avoidance

7. Which risk response strategy involves shifting the impact of a risk to a third party?

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Probability & Schedule

Cost & Impoact

Cost & Schedule

Probability & Impact

8. Risks are evaluated in terms of:

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As many stakeholders as possible.

Everyone except the client.

Only Senior Project Managers

Project team members only

9. Who should be involved in the Risk Management of a project?

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10

Monitoring & Controlling

Closing

Planning

Executing

10. Identifying risks is a subprocess of which process of project risk management?

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BACK

WELL DONE!

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YOU WIN!