Question $2$

$1.$

Monte Carlo simulation is a technique used as part of:

Answer

Risk identification

Risk assessment

Risk monitoring and control

Risk handling

Question $3$

$1.$

Nominal work groups and the Delphi Techniques are used as part of which risk management process?

Answer

Risk identification

Risk assessment

Risk monitoring and control

Risk handling

Question $4$

$1.$

An objective source for risk identification is:

Answer

Lessons learned files

Program documentation evaluations

Current performance data

All of the above

Question $5$

$1.$

If there$\%$u$2019$s a $40\%$ chance of making $$1$ million and a $60\%$ chance of losing $$600,000,$ then the expected monetary outcome is$.$

Answer

$<$$$400,000>$

$<$$$40,000>$

$$360,000$

$<$$$360,000>$

Question $6$

$1.$

Proper risk management is:

Answer

Reactive rather than proactive

Proactive rather than reactive

Achievable only by reliance on Monte Carlo simulation

Evidenced by the use of the Delphi Technique

Question $7$

$1.$

In which life cycle phase is the total project risk generally the least?

Answer

Initiation $/$ Approval

Planning

Execution

Closure

Question $8$

$1.$

The process that identifies, evaluates, selects and implements one or more strategies to set risk at an acceptable level is:

Answer

Risk planning

Risk assessment

Risk handling

Risk monitoring and control

Question $9$

$1.$

Risk mitigation or control:

Answer

Does not eliminate a risk but seeks to reduce it without altering the requirements.

Eliminates a risk by reducing it without altering the requirements.

Eliminates a risk by changing the requirements

Eliminates a risk by reducing the requirements

Question $10$

$1.$

A technique that uses a series of probability distributions and then transforms them into various risks is called:

Answer

Probability estimating

Monte Carlo simulation

Estimating simulation

Black box analysis