Chapter 11: Project Risk Management Flashcards
(56 cards)
What are the four common information gathering techniques?
- Brainstorming
- Delphi technique
- Interviewing
- Root cause analysis
11.2.2.2 Information Gathering Techniques
What is an information gathering technique with a goal of obtaining a comprehensive list of project risks?
Hint: This is usually performed with the project team or often with a multidisciplinary set of experts who are not part of the team.
Brainstorming
11.2.2.2 Information Gathering Techniques
What information gathering technique is a way to reach a consensus of project risk experts, participating anonymously to reduce bias and prevent any one person from having undue influence on the outcome?
Delphi technique
11.2.2.2 Information Gathering Techniques
What is talking to experienced project participants, stakeholders, and subject matter experts helps to identify risks?
Interviewing
11.2.2.2 Information Gathering Techniques
After Performing Quantitative Risk Analysis, an updated risk register contains what four things?
- Probabilistic analysis of the project
- Probability of achieving cost and time objectives
- Prioritized list of Quantified risks
- Trends in Quantitative Risk Analysis results
11.4.3. Perform Quantitative Risk Analysis: Outputs
What are secondary risks?
They are the result of a risk response implementation.
11.5.2 Plan Risk Responses: Tools and Techniques
What kind of change requests are activities that realign the performance of the project work with the project management plan?
Recommended corrective actions
11.6.3.2 Change Requests
What kind of change request ensures that future performance of the project work is aligned with the project management plan?
Recommended preventive actions
11.6.3.2 Change Requests
What information, as a Control Risks output, provides a mechanism to communicate and support project decision making?
Work Performance Information
11.6.3.1 Work Performance Information
What is the process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project?
Control Risks
11.6 Control Risks
What information is gathered from performance measurements and analyzed to provide project work performance information including variance analysis, earned value data, and forecasting data?
Work Performance Reports
11.6.1.4 Work Performance Reports
What information is related to various performance results possibly impacted by risks includes, but is not limited to:
- Deliverable status
- Schedule progress
- Costs incurred
Work Performance Data
11.6.1.3 Work Performance Data
What is EMV
Expected Monetary Value analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen (i.e., analysis under uncertainty).
11.4.2.2 Quantitative Risk Analysis and Modeling Techniques
What defines the combination of probability and impact that helps determine which risks need detailed risk response plans?
Risk probability and impact matrix
11.3.2.2 Probability and Impact Matrix
What is the process of defining how to conduct risk management activities for a project?
Plan Risk Management
11.1 Plan Risk Management
What is the process of defining how to conduct risk management activities for a project?
Plan Risk Management
11.1 Plan Risk Management
What are the 10 categories of the risk management plan?
- Methodology
- Roles and responsibilities
- Budgeting
- Timing
- Risk Categories
- Definitions of risk probability and impact
- Probability and impact matrix
- Revised stakeholders’ tolerances
- Reporting formats
- Tracking
11.1.3.1 Risk Management Plan
What is the degree, amount, or volume of risk that an organization or individual will withstand?
Risk tolerance
11.0 Project Risk Management
What four project documents are updated as an output of Plan Risk Responses?
- Risk Register
- Assumptions log
- Technical documentation
- Change requests
11.5.3.2 Project Documents Updates
What is the process of developing options and actions to enhance opportunities and reduce threats to project objectives?
Plan Risk Responses
11.5 Plan Risk Responses
What is the process of numerically analyzing the effect of identified risks on overall project activities?
Perform Quantitative Risk Analysis
11.4 Perform Quantitative Risk Analysis
What is a diagraming and calculating technique for evaluating the implications of a chain of multiple options in the presence of uncertainty?
Decision Tree Analysis
11.4.2.2 Quantitative Risk Analysis and Modeling Techniques
What is the process of determining which risks may affect the project and documenting their characteristics?
Identify Risks
11.2 Identify Risks
What technique computes the project schedule many times using input values selected at random for probability distributions of durations to calculate a distribution of possible completion dates?
Monte Carlo Simulation
11.4.2.2 Quantitative Risk Analysis and Modeling Techniques
