Risk Management Strategies in Project Planning
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Questions and Answers

What is the first and crucial step in the risk management process?

  • Risk assessment
  • Risk mitigation
  • Risk monitoring
  • Risk identification (correct)

In risk planning, what is the primary purpose of addressing risks?

  • Ignoring risks
  • Avoiding or minimizing risks (correct)
  • Exaggerating risks
  • Creating more risks

Which type of risk checklist item is associated with the software or hardware technologies used in system development?

  • Organizational risks
  • Technology risks (correct)
  • External risks
  • People risks

How can risk identification be conducted in a project?

<p>As a team process to brainstorm possible risks (A)</p> Signup and view all the answers

What activity involves regularly assessing risks and revising mitigation plans based on new information?

<p>Risk monitoring (C)</p> Signup and view all the answers

Which type of risk may arise from the organizational environment where software is being developed?

<p>Organizational risks (A)</p> Signup and view all the answers

Which type of risk planning strategy focuses on reducing the probability that a risk event will occur?

<p>Avoidance strategies (B)</p> Signup and view all the answers

What is the primary purpose of contingency plans in risk management?

<p>To prepare for the worst and have a strategy in place (C)</p> Signup and view all the answers

In risk control, what do minimization strategies focus on reducing?

<p>The impact of a risk event (A)</p> Signup and view all the answers

What does risk monitoring involve in the context of project management?

<p>Regularly assessing identified risks for changes (A)</p> Signup and view all the answers

Which type of strategy involves being ready for the worst-case scenario with a pre-prepared plan?

<p>Contingency plans (D)</p> Signup and view all the answers

What is the main focus of avoidance strategies in risk planning?

<p>Reducing the probability of risks arising (D)</p> Signup and view all the answers

What should be considered when assessing whether the effects of a risk have changed?

<p>Number of requirements change requests (B)</p> Signup and view all the answers

When should risks be monitored in a project?

<p>At every management review (C)</p> Signup and view all the answers

What should be discussed at every management review concerning risks?

<p>Each of the key risks separately (A)</p> Signup and view all the answers

How should risk probability and its effects be evaluated?

<p>By analyzing historical data (C)</p> Signup and view all the answers

Why would estimating based on lines of code be inappropriate for IOE's main software project?

<p>Main software to be obtained 'off the shelf' (D)</p> Signup and view all the answers

What should Amanda refer to when estimating effort for each stage of the project?

<p>Conversion tables for lines of code (B)</p> Signup and view all the answers

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