MILLIONAIRE QUIZ - Risk Planning

QUIZ ABOUT

RISK MANAGEMENT

START

GOODLUCK!

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1. What is Project Risk Management?

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

The process of selecting the right projects for an organization

The process of managing resources to complete a project

The process of creating a project schedule

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2. Why is Project Risk Management important?

It ensures that all projects are completed on time

It prevents any risks from occurring during a project

It increases the likelihood of project success by addressing uncertainties proactively

It reduces the need for project planning

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

Completion of project milestones ahead of schedule

Availability of highly skilled project team members

Changes in project scope during execution

Early completion of project deliverables

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

Risk Transfer

Risk Acceptance

Risk Avoidance

Risk Mitigation

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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

To track the progress of a project

To serve as a project schedule

To manage project resources

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

Continuously throughout the project lifecycle

Only at the beginning of the project

Once the project is complete

Only at the end of the project

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

Risk Avoidance

Risk Transfer

Risk Mitigation

Risk Acceptance

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8. Risks are evaluated in terms of:

Probability & Impact

Cost & Schedule

Cost & Impoact

Probability & Schedule

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

Only Senior Project Managers

Project team members only

Everyone except the client.

As many stakeholders as possible.

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

Executing

Planning

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Closing

Monitoring & Controlling

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WELL DONE!

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YOU WIN!

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