Question 1. 1.
Due to the impact over a long period of time, risk events that occur in the early stages of a project will have a greater cost impact than those that occur in later stages.
True
False
Question 2. 2.
The demolition of the Seattle Kingdome (Snapshot from Practice) is an example of which of the following?
Mitigating
Retaining
Ignoring
Transferring
Sharing
Question 3. 3.
All of the following are included in the risk identification process except
Customers
Subcontractors
Competitors
Vendors
None of these are included
Question 4. 4.
Which of the following is identified to cover major unforeseen risks and, hence, are applied to the total project?
Budget reserves
Management reserves
Time buffers
Both B and C are correct
A, B, and C are all correct
Question 5. 5.
An uncertain event or condition that, if it occurs, has a positive or negative effect on a project objectives is termed.
Random chance
A disaster
Risk
Hazard
Bad luck
Question 6. 6.
Delaying noncritical activities to lower peak demand on resources is known as resource
Shifting
Effectiveness
Manipulating
Resource smoothing
Allocation
Question 7. 7.
In a resource-constrained project the second priority in assigning resources is usually given to activities with the
Smallest duration
Least slack
Most slack
Lowest identification number
Highest cost
Question 8. 8.
Too many parallel activities for one individual are an example of a resource constraint.
True
False
Question 9. 9.
Many companies are using outsourcing as a means for dealing with their resource allocation problems associated with managing multiproject resources.
True
False
Question 10. 10.
Fixed price contracts are an example of transferring risk from an owner to a contractor.
True
False