Test Risk

You have just been assigned as project manager for an engineering project, and you want to quickly review the project’s procedures for managing risk. What would be the most helpful in finding this information?

While preparing your risk responses, you identify additional risks. What should you do?

A project manager is unsure of how much cost reserve to add to the project. There is a 50 percent chance of a weather delay causing an impact of 100,000 RON and a 30 percent chance of a delay in the testing center with a 20,000 RON impact. How much should the cost reserve be?

You have just been assigned as the project manager for a new telecommunications project. There appear to be many risks on this project, but no one has evaluated them to asses the range of possible project outcomes. What needs to be done?

The project manager has worked closely with the team to come up with contingency plans. Which of the following best describes contingency plans?

In which part of the risk management process would you complete a risk rating matrix?

If a risk event has a 90 percent chance of occurring, and the consequences will be 10,000 RON, what does 9,000 RON represent?

Which of the following best describes when the team and stakeholders identify risks?

During the Plan Risk Management process of a major project, the project manager is informed that her key subject matter experts are currently spread around the globe. All experts are available via e-mail, an planning must not be delayed. What is the best method for gathering information?

What is the expected monetary value of the decision displayed in the chart?

What should be done with risks on the watch list?

Your team has discovered a high probability that the equipment you are developing will not perform under the pressure it needs to in the workplace. In order to handle this risk, you have chosen to prototype the equipment. This is an example of risk:

The risk information on the project must be analyzed to determine how accurate and well understood it is, and whether more research is needed before a qualitative assessment can be done. It is most important to complete which of the following?

During a daily stand-up, a team member expresses concern about a potential delay in a critical task due to unforeseen dependencies. What should the Scrum Master do first to address this risk?

A project manager whom you have been mentoring has completed the Plan Risk Responses process. What is the next thing the project manager should do?

Three people are in the process of estimating probabilities for each of their identified risks. which step of risk management is this?

During a call conference, one team member suggests that a more experienced person be used on the project. Another proposes using a person with more training. Which of the following best describes what is being done?

Which parts of the risk management process do not generally use organizational process assets as an input?

A system development project is nearing project closing when a previously unidentified risk is discovered. This could potentially affect the project’s overall ability to deliver. What should be done next?

A project has the following risks: 20 percent probability of a 14 day delay in the receipt of customer requirements; 10 percent probability of a 21 day delay in the procurement process; 50 percent probability the integration will take 14 days longer than planned. What is the expected monetary value of these events?