As the project manager of a high-visibility project, you are in the process of Identifying risks. You are concerned that the data you collect might be biased. A technique that helps keep the bias out of the data and keeps any one person from having undue influence on the outcome is:
A. Interviewing B. Round-robin technique C. Ishikawa technique D. Delphi technique
You are analyzing the risk in a project and decide to do sensitivity analysis to determine which risks have the most potential impact on the project. You look at a tool to help compare the relative importance of variables that have a high degree of uncertainty to those that are more stable. One such tool is:
A. Beta Distribution B. Multicriteria decision analysis C. Control Chart D. Tornado Diagram
You are managing a fund raising golf tournament that has a hole-in-one contest. However, your company can’t afford to pay the $1,000,000 award if someone does get a hole in one, so they have elected to take out an insurance policy in the event that someone does get lucky. This is an example of?
A. Sharing B. Mitigation C. Transference D. Avoidance
You are working on a data center migration project and will be moving a mainframe system to another data center. However, you can’t have any downtime when performing the move. The subject matter experts have various ideas regarding how this daunting task can be done, but the group is not coming to a consensus. You have decided that you will send out a questionnaire to the subject matter experts to get their views and risks on the project. You will then summarize the risks and approaches, and recirculate it to the subject matter experts. You are hoping to reach consensus after several rounds of this. What type of tool is being used?
A. Interviewing B. Brainstorming C. SWOT Analysis D. Delphi Technique
You are working as a project manager for a high yield crop development project. Data from the weather agency shows an unfavorable weather pattern for next few months. As a senior project manager, you want to assess the feasibility of the schedule under adverse conditions and provide some insights to your team. This way, your team can prepare some reserves and plan risk responses if unfavorable conditions exist during execution. Which of the following techniques should you use to assess the feasibility of the schedule?
A. Pareto charts B. Variance analysis C. Crashing D. Monte Carlo analysis
Emily is a project manager managing a town-development project. Emily has set up a series of interviews with various stakeholders to gather some experiential and historical information on risks. Which phase is this likely to happen in?
A. Perform Qualitative Risk Analysis B. Plan Risk Responses C. Understand Risks D. Perform Quantitative Risk Analysis