Note the most correct answer for each multiple-choice question

7. The three components of risk are: a. A change, a certainty, and an amount at stake b. Technical, schedule, and financial c. Avoidance, mitigation, and acceptance d. An event, the probability of the occurrence of the event, and the impact of the event 8. The six major processes of risk management are: a. Risk identification, risk quantification, risk evaluation, risk control, risk assessment, and risk monitoring b. Risk response development, risk identification, qualitative risk analysis, quantitative risk analysis, and risk assessment c. Risk management planning, risk Identification, qualitative risk analysis, quantitative risk analysis, risk response planning, and risk monitoring and control d. Risk management planning, risk Identification, qualitative risk analysis, quantitative risk analysis, risk containment, and risk monitoring and control 9. It is important to prioritize risks to: a. Decide which risks are worthy of attention b. Determine the probability of a risk event c. Determine a risk mitigation approach for risk events d. Filter out the technical risks 10. An estimate is: a. An investment/marketing approach b. Always expressed in terms of effort in hours c. An assessment of the likely quantitative result d. A pricing strategy 11. When should you prepare and review your definitive estimate? a. While you prepare your WBS b. After your WBS is developed and whenever it changes c. One time during your project as part of your plan d. Only during the bido-bid stage 12. A milestone chart is an excellent tool for communicating with the client/project sponsor or upper management. A milestone represents: a. An activity that is in progress b. A relationship between two activities c. An achievement or a significant event in the project d. An event always found on the critical path