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CPM2- Risk assignment

The document consists of multiple-choice questions related to risk management in construction project management. It covers topics such as risk identification, analysis, responses, and ownership, along with specific scenarios and calculations related to expected monetary value and probabilities. The questions aim to assess knowledge and understanding of risk management processes and tools.

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Abdelrahman Tamer
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© © All Rights Reserved
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Download as PDF, TXT or read online on Scribd
3 views

CPM2- Risk assignment

The document consists of multiple-choice questions related to risk management in construction project management. It covers topics such as risk identification, analysis, responses, and ownership, along with specific scenarios and calculations related to expected monetary value and probabilities. The questions aim to assess knowledge and understanding of risk management processes and tools.

Uploaded by

Abdelrahman Tamer
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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1.

As a construction project manager, you are concerned with determining which risks may
affect the project. What is the process by which such risks are determined?
a. Plan Risk Management. b. Identify Risks.
c. Perform Qualitative Risk Analysis. d. Plan Risk Responses.

2. Your project requires that you install 10 copies of software onto your department's
computers. The vendor offers you a twenty percent discount on the software if your
company will purchase 20 or more copies of the software. You communicate this offer with
other departments in your firm to see if anyone else would need 10 copies of the software
to save your project a significant amount of funds. What is this risk response called?
a. Exploiting. b. Avoidance. c. Sharing. d. Transference.

3. Who is the risk owner?


a. The person who monitors the watchlist that contains the risk.

b. The person who meets with stakeholders to explain the risk.


c. The person who makes a risk happen.
c. The person who is responsible for the response plan for the risk.

4. Which risk analysis tool is used to model your risks on a computer to show random
probabilities?
a. Computerized risk audit. b. EMV analysis.
c. Monte Carlo analysis. d. Delphi technique.

5. If a project manager has a very low tolerance for risk, he/she is said to be:
a. Risk averse. b. Risk taker.
c. Risk neutral. d. Opportunistic.
6. If a project has a 60% chance of a LE100,000 profit and a 40% chance of a LE100,000 loss,
the expected monetary value for the project is:
a. LE100,000 profit. b. LE60,000 loss.
c. LE20,000 profit. d. LE40,000 loss.

7. If a risk event has a 90% chance of occurring, and the consequences will be LE10,000,
what does LE9,000 represent?
a. Risk value. b. Present value. c. Expected monetary value. d. Contingency
budget.

8. All of the following are ALWAYS input to the risk management process EXCEPT:
a. Historical information. b. Lessons learned.
c. Work breakdown structure. d. Project status reports.

9. Purchasing insurance is BEST considered an example of risk:


a. Mitigation. b. Transfer. c. Acceptance. d.
Avoidance.

10. During which risk management process is a determination to transfer a risk made?
a. Identify Risks. b. Perform Quantitative Risk Analysis.
c. Plan Risk Responses. d. Monitor and Control Risks.

11. Watchlist is an output of which risk management process?


a. Plan Risk Responses.
b. Perform Quantitative Risk Analysis.
c. Perform Qualitative Risk Analysis.

d. Plan Risk Management.

12. Risks will be identified during which risk management Process(es)?


a. Perform Quantitative Risk Analysis and Identify Risks.
b. Identify Risks and Monitor and Control Risks.
c. Perform Qualitative Risk Analysis and Monitor and Control Risks.
d. Identify Risks.

13. During which risk management process is a determination to transfer a risk made?
a. Identify risks.
b. Perform Quantitative Risk Analysis.
c. Plan Risk Responses.

d. Monitor and Control Risks.

14. During project executing, a team member identifies a risk that is not in the risk register.
What should you do?
a. Get further information on how the team member identified the risk, because you
already performed a detailed analysis and did not identify the risk.
b. Disregard the risk, because risks were identified during project planning.
c. Inform the customer about the risk.
d. Analyze the risk.

15. If a risk event has a chance of occurring 15 times out of 45 times, based on experiences
with like events, what is the probability that the event will occur on the next project?
a. 90%. b. 45%. c. 15%. d. 33%.

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