Podcast
Questions and Answers
When should risks be identified during the project life cycle?
When should risks be identified during the project life cycle?
- Continuously throughout the project (correct)
- Only during the execution phase
- Only during the planning phase
- Only at the beginning
What is a benefit of identifying risks early in the project life cycle?
What is a benefit of identifying risks early in the project life cycle?
- Reduced flexibility in managing risks
- Delays project timelines
- Highlights gaps in project scope (correct)
- Increased project costs
Who has the ultimate responsibility for identifying risks in a project?
Who has the ultimate responsibility for identifying risks in a project?
- Project manager
- External consultants
- Project team
- Project sponsor (correct)
What tool or technique involves generating ideas from a group to identify risks?
What tool or technique involves generating ideas from a group to identify risks?
In the context of risk identification, what does 'influence diagrams' refer to?
In the context of risk identification, what does 'influence diagrams' refer to?
What is a key element of a risk management plan?
What is a key element of a risk management plan?
What type of risk dependency occurs when bad weather leads to reduced productivity and equipment breakdown?
What type of risk dependency occurs when bad weather leads to reduced productivity and equipment breakdown?
Which type of risk is associated with market value fluctuations?
Which type of risk is associated with market value fluctuations?
What type of risk is typically insurable?
What type of risk is typically insurable?
What is the primary purpose of a risk register in risk management?
What is the primary purpose of a risk register in risk management?
What is a Risk Breakdown Structure (RBS)?
What is a Risk Breakdown Structure (RBS)?
Which level of the RBS provides the most detailed definition of sources of risk?
Which level of the RBS provides the most detailed definition of sources of risk?
What is the primary characteristic of a risk event in the context of project risk management?
What is the primary characteristic of a risk event in the context of project risk management?
What is an example of an 'effect' in the context of project risk management?
What is an example of an 'effect' in the context of project risk management?
What is the primary reason for identifying the cause of a risk event?
What is the primary reason for identifying the cause of a risk event?
Which component of a risk event answers the question, 'What can go wrong?'
Which component of a risk event answers the question, 'What can go wrong?'
What is the primary benefit of understanding the relationships between risks in a project?
What is the primary benefit of understanding the relationships between risks in a project?
What type of risk dependency involves multiple risks occurring together to affect one or more risks?
What type of risk dependency involves multiple risks occurring together to affect one or more risks?
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