Risk Analysis in IT Project Management
Risk Analysis in IT Project Management Quiz
Test your knowledge on risk analysis within IT project management with this comprehensive quiz. Designed for professionals and enthusiasts alike, this quiz features 22 questions that cover essential concepts and practices in risk management.
Key topics include:
- Risk Identification
- Risk Assessment
- Risk Response Strategies
- Stakeholder Engagement
Your Title
Business Analyst I
Business Analyst II
Senior Business Analyst
Lead Business Analyst
All of the following are factors in the assessment of project risk EXCEPT
Risk Events
Risk Probability
Insurance Premium
Amount at stake
What is the best time to identify a risk?
Project Initiation/Planning phase
Project Execution phase
Project Closure Phase
All of the above
What is the first step in project risk management?
Identify Risk
Assess likelihood and risks to address
Determine risk action
Control Risk on ongoing basis
Which is the correct definition of Risk Tolerance?
A general high level description of the acceptavble level of risk
A measureable amount of acceptable risk
A point where risk becomes acceptable
The amount of flexibility in risk occourance
Which analysis is performed first on Risks?
Qualitative Analysis
Quantitative Analysis
What the triple contrainsts which are impacted by a risk
Cost, Quality, Scope
Time, Cost, Quality
Cost, Time, Scope
Budget, Time, Quality
Research has shown that numerous project managers are actually over-prepared to appropriately manage risk.
True
False
How can you deal with risk thoroughly, without it consuming every moment of your day?
Regularly gather people to assess your over all risk status
Use risk to prioritize what you do on a day to day basis
All of these
Include a discussion on risk in your regular status meetings
While evaluating your stakeholders' risk tendencies, you should take performance appraisals into consideration, which refer to _____.
How stakeholders rate your performance as project manager
How your organization is performing financially
How your stakeholders are being appraised by the their managers
All of these answers
A risk plan is a document that describes how project risk management will be structured and performed on a project.
True
False
How can you categorize risk?
By Technical topics and grading
Look at the triple constraints
All of these
By Business area and importance
The Difference between the risk plans that work and those which do not usually comes down to one simple factor
The way risk is written
Whether your stakeholders have a high risk tolerance
How liekable are you as a project manager
The economy
To manage your time and project risks effectively, you should perform a qualitative risk analysis to filter and prioritize your risks.
True
False
Not Necessary
To manage your time and project risks effectively, you should perform a qualitative risk analysis to filter and prioritize your risks.
Risk Tolerance
Quantitative Analysis
Risk Identification
Qualitative Analysis
To manage your time and project risks effectively, you should perform a qualitative risk analysis to filter and prioritize your risks.
True
False
Not Applicable
Name the common risk response strategies
Accept, Mitigate, Share, Avoid
Transfer, Accept, Avoid, Mitigate
Exploit, Enhance, Share, Avoid
Allocate, Deflect, Accept, Avoid
Which is the correct Platform to report Project Risks at S&P Global?
Serena
User Stories in TFS
The Hub
Visual Studio Team Server (VSTS)
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