All of the following activities are appropriate upon completion of risk response planning EXCEPT:
The risk register should be baselined
after planning is completed, and should not be updated once the project is in flight. … Team members assess the probability of occurrence and severity of impact for identified risks.
Which of the following describes the activities appropriately performed by the project team during perform qualitative risk analysis?
Which of the following describes the activities appropriately performed by the project team during Perform Qualitative Risk Analysis? …
Team members assess the probability of occurrence and severity of impact for identified risks
. Team members identify potential risk events.
Which of the following activities illustrates a risk response strategy designed to mitigate threat?
All of the following activities are appropriate upon completion of risk response planning EXCEPT:
The risk register should be baselined
after planning is completed, and should not be updated once the project is in flight. … Team members assess the probability of occurrence and severity of impact for identified risks.
Which risk response strategy would be used to lower the probability and or impact of the threat?
2.
Mitigate Impact
/Probability of Risks. Mitigate Risk Response Strategy means you do something to reduce the impact or the probability of a threat.
Which of the following is a benefit that can be attributed to the effective use of a risk management plan?
All of the following are benefits that can be attributed to the effective use of a risk management plan EXCEPT: a.
It enables project managers to eliminate or reduce the impact of some threats
. … A risk may impact the project in a positive or negative way.
What are the four risk response strategies?
- Avoid – eliminate the threat to protect the project from the impact of the risk. …
- Transfer – shifts the impact of the threat to as third party, together with ownership of the response. …
- Mitigate – act to reduce the probability of occurrence or the impact of the risk.
What are examples of risk response?
| Risk Response Description/example | Reduce Action is taken to reduce either the likelihood of the risk occurring or the impact that it will have. | Accept The risk may be accepted perhaps because there is a low impact or likelihood. A contingency plan will be identified should it occur. |
|---|
Which risk response applies to both opportunities and threats?
Risk response strategies such
as mitigation and exploitation
apply to both threats and opportunities.
Which of the following describes the effective use of a risk register?
Which of the following describes the effective use of a risk register?
Items such as the probability of occurrence and impact are typically added to the risk register subsequent to risk identification
. … The impact of risk may be positive or negative.
What processes or steps are involved in the creation of a risk register?
You’ll notice that the risk register addresses risk management in four key steps:
(1) identifying and classifying risks, (2) analysis, (3) evaluation, and (4) solutions and monitoring
.
What is exploit strategy?
In the exploit response strategy,
you try to eliminate the uncertainty by making the opportunity absolutely happen
. The enhance risk response strategy can be defined as the opposite of the mitigation risk response strategy.
What are examples of mitigating actions?
- Local plans and regulations.
- Structural projects.
- Natural systems protection.
- Education programs.
- Preparedness and response actions.
What is a risk response matrix?
A risk response matrix contains
The risk event
– The event which is being planned for or responded to. The planned response – The response to this risk, whether it’s a corrective action or mitigating action. Contingency plan – A contingency plan for the risk, so that the outcomes of the incident or risk event is …
How do you mitigate risks in a project?
- Include risk management in your projects. …
- Communicate risks to others. …
- Prioritize risks. …
- Analyze risks. …
- Implement risk responses as early as possible. …
- Track them down regularly. …
- Summary.
How do you manage risks in a project?
- Create a project risk register.
- Identify project risks.
- Identify opportunities.
- Determine likelihood and impact.
- Determine the response.
- Estimation.
- Assign owners.
- Regularly review project risks.
What is the first step in developing a risk management plan?
- Step 1: Identify potential risks. …
- Step 2: Evaluate and assess potential risks. …
- Step 3: Assign ownership for each potential risk. …
- Step 4: Create preemptive responses. …
- Step 5: Continuously monitor risks.
