Risk Management Quiz

A professional office environment with a diverse group of people collaborating on risk management strategies, with charts and graphs illustrating risk factors and analysis.

Risk Management Mastery Quiz

Test your knowledge and enhance your skills in risk management with our engaging quiz! Designed for professionals and students alike, this quiz challenges your understanding of risk assessment and mitigation strategies.

10 thought-provoking multiple choice questions
Instant feedback on your answers
Sharpen your risk management skills

10 Questions2 MinutesCreated by AssessingEagle42

A document you use to capture all known risks is called:

Risk Log

Risk Register

Risk List

Risk Diary

On a Friday evening, John (your best engineer in the team) comes to you and says he quits. You have two weeks to find a substitution. What would reduce the chances of such an event? Why?

Regular one-on-ones with John

Comprehensive professional development plan

The highest salary in the team

More responsibility

A process that involves prioritizing risks for further action or analysis by assessing the impact and the probability of occurrence is called

Qualitative Risk Analysis

Risk Brainstorming

Quantitative Risk Analysis

Risk Retrospective

When do you perform Risk Identification?

At the beginning of a project.

During project planning.

During the whole lifetime of a project.

During project execution.

As a part of your project, you need to organize a conference. You learn that in the place that you rented there’s a 70% chance of a tropical storm on the selected dates. How should you handle such risk?

Change the location of the conference.

Buy insurance to cover possible damage.

Book another place nearby to mitigate the risk of the first location being unavailable due to the storm.

Inform all participants of the possible storm.

Who should be involved in Risk Management activities?

Only Project Team.

Only Project Manager.

As many stakeholders as practical.

All stakeholders except clients.

You acquired an expensive piece of equipment for your project. It is known to be sensitive and fragile in work. Several tasks that require this equipment are on a critical path. What’s the BEST action you can do to improve the project’s chances for success?

Buy insurance to cover the costs of repairs.

Hire a technical support team to quickly fix the equipment if needed.

Find a good expert to operate the equipment.

There’s nothing you can do.

You are on the call with clients. They say the vendor team they hired to create designs is behind schedule. What should you do?

State that your project is also behind the schedule because of it.

Log the risk into the Risk Register to assess impact.

Do nothing. It’s not your problem.

Contact the vendor to help them out.

After you performed Qualitative Risk Analysis you need to create:

After reviewing Risk Register you see two critical risks that you anticipate during the next week. What should you do with this knowledge?

Do nothing. Your Risk Register is shared with the team and stakeholders.

Reach out to the stakeholders and the responsible person with a reminder.

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