Project stakeholders can often be risk-averse with little to no knowledge of the risk process. How should a risk manager increase stakeholder risk appetite?

Explain risk handling and mitigation strategies.

Increase the impact of all risks in the risk breakdown structure (RBS)

Exclude risk-averse stakeholders from future risk discussions.

Develop a generous probabilistic cash flow model.

The risk management process should be:

Iterative throughout the entire project.

Iterative through the planning phase.

Updated in the execution phase.

Updated throughout the entire project.

The feasibility or risk management planning is dependent upon which of the following aspects of the organization?

Culture, people, and infrastructure capabilities.

Collect High-Quality information about risks.

Alignment with industry standards requirements.

The general manager of the organizations wants to reduce some of risk management in activities. What step did the risk manager fail to perform?

Properly communicating the risk management activities and their outcomes.

Explaining the purpose of the management and contingency reserves.

Identify all risks and assigning the CEO as a risk owner.

Preventing all issues from occurring.

RMP - 1. INTRODUCTION

Authored by sudiyuwono wowo

Professional Development

1st Grade

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MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a project issue within a project environment?

A risk which has a significant impact on the project.

A certain event which has a positive or negative impact in the project.

An uncertain event which may impact the project.

A negative effect on a project objective arising from occurrence of a threat.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following represents levels of risk attitudes?

Risk exploit, risk avoiding, risk transferring.

High, medium and low.

Risk averse, risk neutral, risk seeking.

Technical, External and Organizational.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following situational factors has a significant effect on risk attitude?

The perception of probability or frequency of occurrence and the perception of impact magnitude.

The risk heuristics evaluation available to the project team during planning and execution.

The number of project team members with close relationships to the chief executive officer (CEO).

The number of external stakeholders and the potential for indirect consequence.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the best method a risk manager should use to initially define the stakeholders' risk appetite?

Review risk management plan.

What if scenario.

Conduct SWOT analysis.

Meeting and interviews with key stakeholders.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A project manager has received an email from a key stakeholder illustrating that the project is small and a risk management plan is not needed and lack of a plan will reduce costs. As a project manager, what should you do?

Remove the stakeholder from the stakeholder register and inform the sponsor.

Assess the impact of removing the risk management processes from the project.

Advise the stakeholder that risk management plan must be applied to all projects as it is valuable.

Cancel the risk management plan as the project is small.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the communication form that helps in reducing misunderstandings and improving teamwork?

Push communication.

Status reports.

Face to face discussion.

Formal communication.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following characteristics would be of a risk-averse person?

Risk taking is a price worth paying for future payoffs, seeks strategies and tactics that have high future payoffs.

Not afraid to take action, or even thrill seeking.

Discomfort with uncertainty and seeks security and resolution when facing risk.

Comfort with most uncertainty, accepts risks as a normal feature of projects and business.

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RMP - 1. INTRODUCTION

What is a project issue within a project environment?

Which of the following represents levels of risk attitudes?

Which of the following situational factors has a significant effect on risk attitude?

What is the best method a risk manager should use to initially define the stakeholders' risk appetite?

A project manager has received an email from a key stakeholder illustrating that the project is small and a risk management plan is not needed and lack of a plan will reduce costs. As a project manager, what should you do?

What is the communication form that helps in reducing misunderstandings and improving teamwork?

Which of the following characteristics would be of a risk-averse person?

Which approach should be used when considering human factors to influence the risk management process for optimal effects at the group and individual levels?

Project stakeholders can often be risk-averse with little to no knowledge of the risk process. How should a risk manager increase stakeholder risk appetite?

You are a project manager for an infrastructure project. During a project review meeting, an executive is reviewing the risk section, including risks on the watch list, and requesting to close them out. What is the executive's risk attitudes?

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