1. What is the primary objective of risk management?
Identifying and mitigating potential risks
Avoiding all risks
Focusing only on financial risks
Minimizing risk assessment procedures
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✅ Correct Answer: Identifying and mitigating potential risks
2. What is the purpose of a Risk Register?
Document identified risks and their characteristics
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Document identified risks and their characteristics
3. What is the purpose of a Risk Management Plan?
Define how risks will be identified, analyzed, and managed
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define how risks will be identified, analyzed, and managed
4. Which technique is used to assess the probability and impact of risks?
Risk Assessment Matrix
Gantt Chart
Stakeholder Analysis
Work Breakdown Structure
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✅ Correct Answer: Risk Assessment Matrix
5. What is the purpose of a Risk Breakdown Structure (RBS)?
Categorize and organize risks
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Categorize and organize risks
6. Which risk response strategy involves taking steps to reduce the likelihood or impact of a risk?
Mitigation
Avoidance
Transfer
Acceptance
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✅ Correct Answer: Mitigation
7. What is the purpose of a Risk Audit?
Evaluate the effectiveness of risk responses
Identify new risks
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate the effectiveness of risk responses
8. Which risk response strategy involves shifting the risk to a third party?
Transfer
Mitigation
Avoidance
Acceptance
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✅ Correct Answer: Transfer
9. What is the purpose of a Risk Owner?
Take responsibility for managing a specific risk
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Take responsibility for managing a specific risk
10. Which technique is used to identify risks by analyzing project assumptions?
Assumptions Analysis
Brainstorming
SWOT Analysis
Delphi Technique
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✅ Correct Answer: Assumptions Analysis
11. What is the purpose of a Risk Threshold?
Define the level of risk tolerance
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define the level of risk tolerance
12. Which risk response strategy involves eliminating the risk entirely?
Avoidance
Mitigation
Transfer
Acceptance
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✅ Correct Answer: Avoidance
13. What is the purpose of a Risk Register Update?
Document changes to identified risks
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Document changes to identified risks
14. Which technique is used to prioritize risks based on their impact and probability?
Risk Prioritization Matrix
Gantt Chart
Stakeholder Analysis
Work Breakdown Structure
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✅ Correct Answer: Risk Prioritization Matrix
15. What is the purpose of a Risk Reserve?
Allocate resources to address potential risks
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Allocate resources to address potential risks
16. Which risk response strategy involves accepting the risk without taking any action?
Acceptance
Mitigation
Transfer
Avoidance
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✅ Correct Answer: Acceptance
17. What is the purpose of a Risk Review?
Evaluate the effectiveness of risk management processes
Identify new risks
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate the effectiveness of risk management processes
18. Which technique is used to identify risks by analyzing project strengths, weaknesses, opportunities, and threats?
SWOT Analysis
Brainstorming
Assumptions Analysis
Delphi Technique
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✅ Correct Answer: SWOT Analysis
19. What is the purpose of a Risk Communication Plan?
Define how risk information will be shared
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define how risk information will be shared
20. Which risk response strategy involves developing contingency plans?
Contingency Planning
Mitigation
Transfer
Acceptance
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✅ Correct Answer: Contingency Planning
21. What is the purpose of Risk Identification?
Recognize potential risks
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Recognize potential risks
22. What is the purpose of Risk Analysis?
Evaluate risk characteristics
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate risk characteristics
23. What is the purpose of Risk Evaluation?
Prioritize risks
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Prioritize risks
24. What is the purpose of Risk Treatment?
Address identified risks
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Address identified risks
25. What is the purpose of Risk Communication?
Share risk information
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Share risk information
26. What is the purpose of Risk Monitoring?
Track risk status
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Track risk status
27. What is the purpose of Risk Review?
Evaluate risk management
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate risk management
28. What is the purpose of Risk Recording?
Document risk information
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Document risk information
29. What is the purpose of Risk Appetite?
Define acceptable risk level
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define acceptable risk level
30. What is the purpose of Risk Tolerance?
Specify risk thresholds
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Specify risk thresholds
31. What is the purpose of Risk Criteria?
Establish evaluation standards
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Establish evaluation standards
32. What is the purpose of Risk Context?
Define assessment environment
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define assessment environment
33. What is the purpose of Risk Sources?
Identify risk origins
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Identify risk origins
34. What is the purpose of Risk Events?
Describe potential occurrences
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Describe potential occurrences
35. What is the purpose of Risk Consequences?
Detail possible impacts
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Detail possible impacts
36. What is the purpose of Risk Likelihood?
Estimate probability
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Estimate probability
37. What is the purpose of Risk Impact?
Assess potential effect
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Assess potential effect
38. What is the purpose of Risk Controls?
Implement safeguards
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Implement safeguards
39. What is the purpose of Risk Treatment Options?
Select response approaches
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Select response approaches
40. What is the purpose of Risk Treatment Plans?
Document response actions
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Document response actions
41. What is the purpose of Risk Reporting?
Communicate risk status
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Communicate risk status
42. What is the purpose of Risk Reviews?
Evaluate risk management
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate risk management
43. What is the purpose of Risk Audits?
Assess process effectiveness
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Assess process effectiveness
44. What is the purpose of Risk Lessons Learned?
Capture improvement opportunities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Capture improvement opportunities
45. What is the purpose of Risk Culture?
Shape organizational attitudes
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Shape organizational attitudes
46. What is the purpose of Risk Maturity?
Evaluate capability level
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate capability level
47. What is the purpose of Risk Framework?
Provide management structure
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Provide management structure
48. What is the purpose of Risk Process?
Define management steps
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define management steps
49. What is the purpose of Risk Tools?
Support risk activities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Support risk activities
50. What is the purpose of Risk Techniques?
Implement analysis methods
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Implement analysis methods
51. What is the purpose of Risk Principles?
Guide risk management
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Guide risk management
52. What is the purpose of Risk Approach?
Define management strategy
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define management strategy
53. What is the purpose of Risk Policy?
Establish organizational stance
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Establish organizational stance
54. What is the purpose of Risk Governance?
Ensure proper oversight
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Ensure proper oversight
55. What is the purpose of Risk Roles?
Define responsibilities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define responsibilities
56. What is the purpose of Risk Responsibilities?
Assign accountabilities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Assign accountabilities
57. What is the purpose of Risk Training?
Develop risk skills
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Develop risk skills
58. What is the purpose of Risk Communication Plan?
Define information sharing
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define information sharing
59. What is the purpose of Risk Metrics?
Measure performance
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Measure performance
60. What is the purpose of Risk Improvement?
Enhance capabilities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Enhance capabilities