can you provide an answer for each question: Once risks have been identified and analyzed, the project team decides how they will handle each risk.

True

False

$0\mathrm{.}5$ points

QUESTION $2$

Your project is estimated to cost $$274,000,000.$ The project cannot be canceled. You have $7$ major contractors all working on the project and making extensive use of leased equipment. As the PM it would be most important to carefully:

a$.$

Review all contractor cost proposals.

b$.$

Ensure all stakeholders have signed off on the WBS$.$

c$.$

Ensure proper budget reserves.

d$.$

Ensure proper risk identification is completed.

$0\mathrm{.}5$ points

QUESTION $3$

All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT:

$$

a$.$ Often multiple strategies are identified for a single risk.

b$.$ Responses should be created for every identified project risk, regardless of the risk score.

c$.$ The expectations of the sponsor and key stakeholders should influence the risk responses that are developed.

d$.$ Risk response planning should address both opportunities and threats.

$0\mathrm{.}5$ points

QUESTION $4$

Which of the following quantitative risk analysis techniques is used to determine which risks have the most powerful impact on the project, with results displayed in the form of a tornado diagram?

$$

a$.$ Sensitivity Analysis

b$.$ Simulation Techniques such as Monte Carlo Analysis

c$.$ Expected Monetary Value $($EMV$)$

d$.$ Failure Mode and Effects Analysis $($FMEA$)$

$0\mathrm{.}5$ points

QUESTION $5$

All of the following activities illustrate a risk response strategy designed to exploit an opportunity EXCEPT:

a$.$ purchase insurance

b$.$ identify trigger condition

c$.$ give the project more visibility

d$.$ assign more or better resources

$0\mathrm{.}5$ points

QUESTION $6$

The purpose of risk management is to eliminate all project risk.

True

False

$0\mathrm{.}5$ points

QUESTION $7$

You apply for a job with a large consulting company. As part of the interview process you are provided with a sample project charter and asked to provide an analysis of the project risks. Which of the following would best help you complete the exercise?

a$.$

The PMBOK Guide

b$.$

A discussion with several team members within the organization from a similar project that failed in the past.

c$.$

The scope statement from the project planning resources.

d$.$

The resource plan from the project planning process.

$0\mathrm{.}5$ points

QUESTION $8$

Risk response strategies such as accept risk and research risk apply to both threats and opportunities.

True

False

$0\mathrm{.}5$ points

QUESTION $9$

Which of the following describes how the team uses a cause$-$and$-$effect diagram to support project risk analysis?

$$

a$.$ The team organizes assumptions and constraints in a fishbone pattern.

b$.$ Team members are encouraged to keep asking $$when$?$ to break down risks into more detailed causes.

c$.$ The team lists the risk as the "effect" in a box at the head of a fish, then names the big bones.

d$.$ The project team begins by identifying strengths, weaknesses, opportunities and threats.

$0\mathrm{.}5$ points

QUESTION $10$

Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events. All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT:

$$

a$.$ understand trigger conditions, or circumstances under which a risk strategy or risk action will be invoked

b$.$ conduct a root cause analysis

c$.$ perform a Monte Carlo analysis

d$.$ develop a flow chart that shows how people, materials or data flow from one person or location to another

$0\mathrm{.}5$ points

QUESTION $11$

You have been tasked with evaluating the risks on a large project. After several weeks working on the effort you are finding it very difficult to evaluate the exact cost of impacts of the risks you are analyzing. Based on this situation you should evaluate the risks on a$($n$)$:

a$.$

Mathematical basis

b$.$

Qualitative basis

c$.$

Statistical basis

d$.$

Quantitative basis

$0\mathrm{.}5$ points

QUESTION $12$

The cost per risk for risks discovered early in the project is often more than the cost per risk for risks discovered late because there is more opportunity for the risk to impact several dimensions of the project.

True

False

$0\mathrm{.}5$ points

QUESTION $13$

Perform Quantitative Risk Analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.

True

False

$0\mathrm{.}5$ points

QUESTION $14$

When the impact of an event is negative, it is considered a risk; when the impact is positive, the event is considered an opportunity.

True

False

$0\mathrm{.}5$ points

QUESTION $15$

The primary output of Identify Risks is the Risk Identification Matrix $($RIM$).$

True

False

$0\mathrm{.}5$ points

QUESTION $16$

Sometimes the risks posed by