27 Questions
According to the text, why is project planning important?
All of the above
What is the purpose of a project chartering workshop?
To establish well-defined objectives
According to Brian Tracy, how much time can be saved in execution by allocating time to planning?
10 minutes
Which of the following is a risk response strategy for threats?
Transfer
What is the risk response strategy for opportunities that involves increasing the probability and impact of the opportunity?
Enhance
What is the purpose of a contingency reserve in risk response planning?
To plan for known risks that cannot be managed proactively
Which risk-oriented measure should be tracked in risk monitoring and control?
The number of risks initially rated as low that later became high
Which one of the following is a key responsibility of a project manager?
Building effective project teams
Which one of the following is the purpose of integration management in project management?
Coordinating the work and timing of different groups
What is the purpose of breaking a project into component phases?
To focus on specific, short-term output
What is project risk management?
Managing uncertain events or conditions that can affect project objectives
Which technique is used to identify project risks?
Delphi method
What is the purpose of qualitative risk analysis?
To prioritize risks
What is the risk priority number (RPN) formula in Failure Mode and Effect Analysis (FMEA)?
RPN = S * L * D
Which technique is used for quantitative risk analysis?
Decision Tree Analysis / Expected Monetary Value (EMV)
Which of the following is NOT an advantage of mind mapping in project planning?
It helps in participative management
What is the purpose of the Work Breakdown Structure (WBS) in project planning?
To identify all meaningful tasks in a project
What is a key element of the Work Breakdown Structure (WBS)?
The uncertainty and risk associated with each detail
What are the steps involved in creating a WBS?
Identify data for each work package, review work package information, cost the work packages
Which of the following is NOT an outcome of the 'Launch meetings' or 'Project Chartering workshop' mentioned in the text?
Initial risk management
According to the text, what is the purpose of a responsibility assignment matrix (RACI)?
To keep track of who must approve and who must be notified
When developing a project charter for outside clients, what can be done without the client's permission?
Discuss subsequent changes with contributing units
According to the text, what is the advantage of colocation for project teams?
Better communication and teamwork
Which of the following is NOT an element of a project charter?
Evaluation methods
Which of the following is NOT a component of the Project Plan mentioned in the text?
Defining how project requirements will be managed
According to the text, what is the disadvantage of virtual teams?
Possibility for misunderstandings and feeling of isolation
According to the text, what are some other issues to consider when managing human resources in a project?
All of the above
Discover the essential techniques for effective risk management planning in project management with this quiz. Learn about risk identification methods, including expert opinion, documentation review, assumption analysis, previous experience, and the Delphi method. Test your knowledge and enhance your skills in mitigating internal and external risks.
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