Practice Quiz

Risk Management Professional Exam Prep - Question List

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26. What is Pareto's Law?
  1. 80% of the effects come from 20% of the causes
  2. Work expands so as to fill the time available for its completion.
  3. Anything that can go wrong will go wrong.
  4. Never attribute to malice that which can be adequately explained by stupidity.
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27. Hector the Projector is in the quantitative risk assessment portion of the process. Which is a productive example of this phase of the process?
  1. Identifying all 10,000 project risks
  2. Estimating possible costs of unforeseeable circumstances
  3. Determining the probability that the project will meet its goals successfully
  4. Ball-parking costs for each project task
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28. Which of the following can you use a Monte Carlo simulation to model? Select all that apply:
  1. Cost
  2. Probability of Success
  3. Project duration
  4. Wind shear
  5. Stock returns
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29. Lena is in the midst of assessing risk on her process re-engineering project. Which might she use to perform a qualitative assessment of identified risks in her project?
  1. Partial historical data
  2. Spotty data
  3. Second-hand information
  4. First-hand interviews
  5. Magic 8 Ball
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30. The managers at Static Inc. have been carrying out business the same way for the last ten years. However, they’ve taken on a new customer who wants to see newer technology being employed. Static Inc. management is constantly challenging the newly hired, experienced project manager who is trying to deploy the new system as best he can. What is the biggest risk to this project, based on the above?
  1. The technology
  2. Skills of the project manager
  3. The managers’ resistance to change
  4. The schedule
  5. Scope management
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