Risk Analysis in IT Project Management

A professional and engaging illustration of a project manager analyzing risk factors on a digital dashboard, with elements representing IT and project management themes, bright and modern design.

Risk Analysis in IT Project Management Quiz

Test your knowledge on risk analysis within IT project management with this comprehensive quiz. Designed for professionals and enthusiasts alike, this quiz features 22 questions that cover essential concepts and practices in risk management.

Key topics include:

Risk Identification
Risk Assessment
Risk Response Strategies
Stakeholder Engagement

22 Questions6 MinutesCreated by AnalyzingData120

All of the following are factors in the assessment of project risk EXCEPT

Risk Events

Risk Probability

Insurance Premium

Amount at stake

What is the best time to identify a risk?

Project Initiation/Planning phase

Project Execution phase

Project Closure Phase

All of the above

What is the first step in project risk management?

Identify Risk

Assess likelihood and risks to address

Determine risk action

Control Risk on ongoing basis

Which is the correct definition of Risk Tolerance?

A general high level description of the acceptavble level of risk

A measureable amount of acceptable risk

A point where risk becomes acceptable

The amount of flexibility in risk occourance

What the triple contrainsts which are impacted by a risk

Cost, Quality, Scope

Time, Cost, Quality

Cost, Time, Scope

Budget, Time, Quality

Research has shown that numerous project managers are actually over-prepared to appropriately manage risk.

True

False

How can you deal with risk thoroughly, without it consuming every moment of your day?

Regularly gather people to assess your over all risk status

Use risk to prioritize what you do on a day to day basis

All of these

Include a discussion on risk in your regular status meetings

While evaluating your stakeholders' risk tendencies, you should take performance appraisals into consideration, which refer to _____.

How stakeholders rate your performance as project manager

How your organization is performing financially

How your stakeholders are being appraised by the their managers

All of these answers

A risk plan is a document that describes how project risk management will be structured and performed on a project.

True

False

How can you categorize risk?

By Technical topics and grading

Look at the triple constraints

All of these

By Business area and importance

The Difference between the risk plans that work and those which do not usually comes down to one simple factor

The way risk is written

Whether your stakeholders have a high risk tolerance

How liekable are you as a project manager

The economy

To manage your time and project risks effectively, you should perform a qualitative risk analysis to filter and prioritize your risks.

True

False

Not Necessary

To manage your time and project risks effectively, you should perform a qualitative risk analysis to filter and prioritize your risks.

Risk Tolerance

Quantitative Analysis

Risk Identification

Qualitative Analysis

To manage your time and project risks effectively, you should perform a qualitative risk analysis to filter and prioritize your risks.

True

False

Not Applicable

Name the common risk response strategies

Accept, Mitigate, Share, Avoid

Transfer, Accept, Avoid, Mitigate

Exploit, Enhance, Share, Avoid

Allocate, Deflect, Accept, Avoid

Which is the correct Platform to report Project Risks at S&P Global?

Serena

User Stories in TFS

The Hub

Visual Studio Team Server (VSTS)

Risk Analysis in IT Project Management

Risk Analysis in IT Project Management Quiz

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