A) Identifying project stakeholders
B) Documenting identified risks and their status
C) Listing project team members
D) Recording project expenses
View AnswerB
62. What is the purpose of risk transfer in risk management?
A) To eliminate the risk entirely
B) To shift the impact of the risk to a third party
C) To ignore the risk until it becomes critical
D) To delegate the risk to a project team member
View AnswerB
63. Which of the following is a characteristic of project risk?
A) It is always external to the project
B) It has no impact on the project timeline
C) It can have either a positive or negative impact
D) It is predictable and can be easily avoided
View AnswerC
64. What is the key outcome of effective risk management in a project?
A) The elimination of all project risks
B) The reduction of potential negative impacts on project objectives
C) The increase in project complexity
D) The complete avoidance of communication with stakeholders
View AnswerB
65. Which of the following is a type of risk that can be managed through contract negotiation?
A) Technical risk
B) Legal and regulatory risk
C) Schedule risk
D) Operational risk
View AnswerB
66. What is the difference between a risk and an issue?
A) A risk is uncertain, while an issue has already occurred
B) A risk always leads to project failure
C) An issue is always external to the project
D) There is no difference
View AnswerA
67. What is the role of a risk manager in software risk management?
A) To oversee the entire project timeline
B) To identify, assess, and monitor risks throughout the project
C) To develop project code
D) To manage the financial budget only
View AnswerB
68. Which of the following techniques can be used to identify risks in a software project?
A) Brainstorming
B) Avoiding communication with the team
C) Coding without documentation
D) Ignoring client feedback
View AnswerA
69. What is risk avoidance in software development?
A) Modifying the project plan to prevent the risk from occurring
B) Accepting the risk and not taking any action
C) Increasing the risk likelihood intentionally
D) Transferring the risk to a third party
View AnswerA
70. What is residual risk in software risk management?
A) The risk that remains after implementing risk responses
B) The risk that was never identified during the project
C) The risk that was transferred to a vendor
D) The risk that has no impact on the project
View AnswerA
71. What is the purpose of risk documentation?
A) To provide a record of identified risks and how they are managed
B) To assign project tasks
C) To record only positive outcomes in the project
D) To manage team collaboration
View AnswerA
72. What is a contingency plan in risk management?
A) A plan that increases the project budget
B) A backup plan to execute if a risk event occurs
C) A list of project stakeholders
D) A plan to avoid all potential risks
View AnswerB
73. What is risk mitigation?
A) Ignoring risks in the early stages of the project
B) Reducing the likelihood and impact of a risk
C) Transferring all risks to stakeholders
D) Avoiding risks by canceling the project
View AnswerB
74. What is the best approach to manage low-priority risks?
A) Ignoring them
B) Monitoring them without immediate action
C) Allocating the entire project budget to them
D) Focusing solely on low-priority risks
View AnswerB
75. Which risk response strategy involves sharing a risk with another party?
A) Risk avoidance
B) Risk transfer
C) Risk mitigation
D) Risk sharing
View AnswerD
76. What is the impact of a poorly managed software risk?
A) Decreased customer satisfaction
B) Increased project quality
C) Reduced project timeline
D) Enhanced team collaboration
View AnswerA
77. What is the role of risk monitoring?
A) To ensure all identified risks are avoided
B) To continuously track and reassess risks throughout the project
C) To eliminate the need for a risk register
D) To assign coding tasks to team members
View AnswerB
78. What is the key advantage of proactive risk management?
A) Risks are dealt with only after they occur
B) Risks are anticipated and addressed before they impact the project
C) The project timeline is extended
D) All risks are transferred to stakeholders
View AnswerB
79. What is the role of project scope in risk management?
A) Defining the risks related to project deliverables
B) Limiting the number of risks that can occur
C) Ignoring risks that affect scope
D) Reducing the impact of financial risks
View AnswerA
80. What is risk escalation in project management?
A) The process of ignoring a high-priority risk
B) The process of increasing the project’s risk profile
C) The process of raising a risk to a higher level of management for action
D) The process of avoiding risk monitoring
View AnswerC
81. What does the term “risk trigger” mean?
A) The event or condition that causes a risk response to be implemented
B) The point at which the project scope is defined
C) A key milestone in the project schedule
D) A change request submitted by the client
View AnswerA
82. What is a key factor in determining the priority of a risk?
A) The risk owner’s availability
B) The potential impact and likelihood of the risk
C) The complexity of the project
D) The number of developers on the project
View AnswerB
83. Which of the following is a strategy for managing positive risks?
A) Risk avoidance
B) Risk exploitation
C) Risk mitigation
D) Risk transfer
View AnswerB
84. What is the purpose of a risk workshop?
A) To review project code
B) To identify, analyze, and prioritize risks with the project team
C) To finalize the project budget
D) To avoid discussing risks
View AnswerB
85. What is a critical aspect of communication in risk management?
A) Informing only the project manager about risks
B) Keeping all stakeholders informed about risks and their status
C) Avoiding discussions on risks until they occur
D) Transferring all risks to external vendors
View AnswerB
86. Which type of risk is related to inadequate software testing?
A) Financial risk
B) Technical risk
C) Schedule risk
D) Operational risk
View AnswerB
87. What is the main reason for conducting a risk assessment?
A) To define the project scope
B) To estimate the impact and likelihood of potential risks
C) To allocate additional budget to stakeholders
D) To finalize the project deliverables
View AnswerB
88. What is the role of risk prioritization in risk management?
A) To ignore low-impact risks
B) To focus resources on the most critical risks first
C) To delegate all risks to junior team members
D) To eliminate all risks from the project
View AnswerB
89. What is the purpose of a risk contingency budget?
A) To reward team members for identifying risks
B) To allocate funds for addressing unforeseen risks
C) To reduce the overall project scope
D) To cover project delays
View AnswerB
90. Which of the following is NOT a risk response strategy?
A) Risk avoidance
B) Risk mitigation
C) Risk amplification
D) Risk transfer
View AnswerC
91. What is the most effective way to deal with a high-impact, high-likelihood risk?