Risk Management Processes Flashcards
7 cards from real PMBOK practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Risk Management Processes flashcards as text
What document describes the risk thresholds and risk appetite of the organization and stakeholders?
Answer: Risk Management Plan
The Risk Management Plan includes stakeholder risk tolerances, thresholds, and the organization's overall risk appetite.
Which technique used in Identify Risks involves team members individually generating risk ideas before group discussion?
Answer: Nominal Group Technique
The Nominal Group Technique allows participants to privately generate ideas first, then share and vote as a group to reduce social influence bias.
An opportunity response strategy where the project team acts to ensure an opportunity definitely occurs is called:
Answer: Exploit
Exploit eliminates uncertainty associated with an opportunity by ensuring it definitely happens, often by assigning the best resources to it.
Which output is FIRST created in the Plan Risk Management process?
Answer: Risk Management Plan
The Risk Management Plan is the sole output of Plan Risk Management and serves as the foundation for all subsequent risk processes.
A secondary risk is defined as a risk that:
Answer: Arises as a direct result of implementing a risk response
Secondary risks are new risks that emerge as a direct consequence of implementing a risk response strategy.
The Monitor Risks process primarily aims to:
Answer: Identify new risks and evaluate risk response effectiveness
Monitor Risks tracks identified risks, identifies new risks, evaluates risk response effectiveness, and ensures risk processes are followed.
When a project team decides to do nothing about a risk unless it occurs, they are using which response strategy?
Answer: Accept
Accept acknowledges the risk without taking proactive action; passive acceptance means no response is planned unless the risk occurs.