Project Risk Management Practice Standard Quiz
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Project Risk Management Practice Standard Quiz

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Questions and Answers

What are the objectives of Project Risk Management?

  • Only focus on decreasing the probability and impact of negative events
  • Decrease the probability and impact of positive events, increase the probability and impact of negative events
  • Only focus on increasing the probability and impact of positive events
  • Increase the probability and impact of positive events, decrease the probability and impact of negative events (correct)

    • Which of the following is a step in Project Risk Management according to PMBOK® Guide?

  • Ignore Risks
  • Perform Qualitative Risk Analysis (correct)
  • Avoid Risks
  • Accept Risks without analysis

    • What is the role of Project Risk Management in Project Management?

  • Optional activity that can be disregarded
  • Only necessary for large projects
  • Not relevant to project management
  • Essential to successful project management (correct)

    • What does the Practice Standard for Project Risk Management aim to provide?

    <p>A standard for project management practitioners and other stakeholders defining good practice for most projects most of the time</p> Signup and view all the answers

    What is a project risk according to the text?

    <p>An uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives.</p> Signup and view all the answers

    Project Risk Management is an optional activity in successful project management

    <p>False</p> Signup and view all the answers

    The Practice Standard for Project Risk Management aims to provide a standard that is globally applicable and consistently applied

    <p>True</p> Signup and view all the answers

    Perform Quantitative Risk Analysis is one of the steps in Project Risk Management according to PMBOK® Guide

    <p>True</p> Signup and view all the answers

    The objectives of Project Risk Management include increasing the probability and impact of positive events

    <p>True</p> Signup and view all the answers

    Project Risk Management should be applied to all projects

    <p>True</p> Signup and view all the answers

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