$(3)$ When do you perform risk identification?

a$)$ At the beginning of a project.

b$)$ During project planning.

c$)$ During the whole lifetime of a project.

d$)$ During project execution.

$(4)$ Statistical simulations of budgets, schedules and resource allocations use which one of the following approaches?

a$)$ BETA distribution

b$)$ Decision$-$tree analysis

c$)$ Present value analysis

d$)$ Monte Carlo analysis

$(5)$ You are on the call with clients. They say the team they hired to create designs is behind schedule. What should you do first?

a$)$ State that your project is also behind the schedule because of it$.$

b$)$ Log the risk into Risk Register to assess impact.

c$)$ Do nothing. It's not your problem.

d$)$ Contact the vendor to help them out.

$(6)$ You are developing radio frequency $($RF$)$ technology that will improve goods delivery to your site. You ask each member of your team to estimate the most optimistic delivery time using the RF technology, the most pessimistic time and the most likely time. This shows that for your next step you plan to:

a$)$ Conduct a sensitivity analysis

b$)$ Use a beta or triangular probability distribution

c$)$ Structure a decision analysis as a decision tree

d$)$ Determine the strategy for risk response