Risk Management Essentials Quiz
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Questions and Answers

Risk wording can sometimes sound more like an issue, so it is not necessary to make a distinction between the two.

False

If a project manager is aware that the team is inexperienced, then the project estimates should be adjusted to reflect that lack of experience.

True

An issue is something known and hence not uncertain, so should not be confused with a risk.

True

If there is an impending flu season ahead, no adjustments should be made to the project estimates.

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

A risk may be worded as 'inexperienced team' or 'flu season'

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

What is the importance of distinguishing risks from issues when managing risks?

<p>Risks and issues have different levels of uncertainty and should be treated differently.</p> Signup and view all the answers

Why should a risk like 'inexperienced team' be considered more of an issue?

<p>Because it is already known and lacks uncertainty.</p> Signup and view all the answers

What should a project manager do if aware of the team's inexperience?

<p>Adjust the project estimates to reflect the lack of experience.</p> Signup and view all the answers

Why should an impending flu season be considered more of an issue?

<p>Because it is already known and lacks uncertainty.</p> Signup and view all the answers

What is the key difference between an issue and a risk in project management?

<p>An issue is something known and lacks uncertainty, while a risk involves an element of uncertainty.</p> Signup and view all the answers

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