Practice Quiz

Risk Management Professional Exam Prep - Question List

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11. Which of the following are part of the perform quality control process? Select all that apply:
  1. Assessing the effectiveness of project control systems
  2. Performing re-work to meet quality standards
  3. Authorize work
  4. Make payments to a vendor
  5. Monitor the effectiveness of risk response plans
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12. Once the Project Manager completes the schedule network analysis, the risk that is identified must be cared for within the project schedule. What type of formats are permissible ways to show logical relationships?
  1. Network Diagram
  2. Project Scope Statement
  3. Progress Reports
  4. Critical Path Baseline
  5. PERT
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13. True or false: For the seller of services, a Fixed Price plus Incentive contract is riskier than a Cost plus Fixed Fee contract.
  1. True
  2. False
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14. Ted is negotiating a 10 year contract with the US government to provide educational services. The government wants a fixed price project. However, Ted is extremely concerned about the possibility of inflation given the increase in government spending. Ted should suggest what type of contract?
  1. Fixed price with incentive fee
  2. Cost plus fixed fee
  3. Cost plus incentive fee
  4. Time and material
  5. Fixed price with economic price adjustment
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15. Who has the cost risk in a fixed fee plus cost project?
  1. The buyer
  2. The seller
  3. The cost risk is shared
  4. The project manager
  5. None of the above
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