You are constructing a probability/impact risk rating matrix for your project. Which of the following is true?
A. The PI matrix multiplies the risk's probability by the cost of the impact to determine an expected value of the risk event.
B. The PI matrix multiplies the risk's probability scales, which fall between 0.0 and 1.0, and the risk’s impact scales to determine a risk score.
C. The PI matrix multiplies the risk's probability by the expected value of the risk event to determine the risk impact and assign a risk score based on a predetermined threshold.
D. The PI matrix multiplies the risk's probability scales and the risk's impact scales, which fall between 0.0 and 1.0, to determine a risk
No Answer is Posted For this Question
Be the First to Post Answer
All of the following strategies are tools and techniques of Risk Response Planning used to reduce or control risk except? A. Mitigation B. Simulation C. Avoidance D. Acceptance
You are the project manager for Insomniacs International. Since you don't sleep much, you get a lot of project work done. You're considering recommending a project that costs $575,000, and expected inflows are $25,000 per quarter for the first 2 years, and then $75,000 per quarter thereafter. What is the payback period? A. 40 months B. 38 months C. 39 months D. 41 months
You are a project manager for Laurel’s theater productions. Your new project is coming in over budget and requires a cost change through the cost change control system. The cost variance was projected using which of the following tools and techniques? A. Performance measurements B. Cost baseline measurements C. Computerized tools D. Performance reports
What are the 10 knowledge areas of project management?
You are developing your project schedule and have decided to use the PERT method to determine project duration. The estimates you've gathered so far include the following: Most likely is 200 hours, optimistic is 180 hours, and pessimistic is 220 hours. Which of the following is the correct PERT estimate? A. 190 B. 266 C. 200 D. 210
what is a project management?
16 Answers Areva, GB Engineering, Proteans,
What are the tools and techniques used in the Initiation process? A. Project selection criteria, historical information, expert judgment B. Project selection methods, historical information, expert judgment C. Project selection criteria, expert judgment D. Project selection methods, expert judgment
Obtaining formal project plan approval and sign-off is important for all of the following reasons except: A. Stakeholders are able to recommend a project Planning methodology to follow throughout the remaining process groups. B. Stakeholders are aware of the project details, which make them more likely to participate in future project decisions. C. Stakeholders will be more likely to cooperate. D. Stakeholders are aware of the specific details regarding project schedules, budgets, and risks.
You are a project manager for Zippy Tees. Your selection committee has just chosen a project you recommended for implementation. Your project is to manufacture a line of miniature stuffed bears that will be attached to your company's trendy T-shirts. The bears will be wearing the same T-shirt design as the shirt they're attached to. Your project sponsor thinks you've really impressed the big boss and wants you to skip to the manufacturing process right away. What is your response? A. To agree with the project sponsor because they are your boss, and they have a lot of authority and power in the company. B. To require that a preliminary budget be established and a resource list be put together to alert other managers of the requirements of this project. This should be published and signed by the other managers who are impacted by this project. C. To require a project charter be published and signed off on by all stakeholders before proceeding. D. To require a project charter be written to include the resource needed, budget, and project manager's authority. The project manager is the only one who needs to see this document as other documents will be distributed later that contain the same detail as the charter.
You are a project manager working in a foreign country. You observe that some of your project team members are having a difficult time adjusting to the new culture. You provided them training on cultural differences and the customs of this country before arriving, but they still seem uncomfortable and disoriented. Which of the following is true? A. This is the result of working with teams of people from two different countries. B. This condition is known as culture shock. C. This is the result of jet lag and travel fatigue. D. This condition is known as global culturalism.
Suppose you did all your work in a 32 bit system, the production server is 64 bit system, you find that during UAT, the system fails and is not working, how will u communicate to your customer, what solution will you provide to the client?
You are a project manager for a telecommunications firm. You're working on a project that entails upgrading technical hardware and equipment. The estimated cost of the hardware and equipment is $1,725,000. You are reviewing products from three different vendors. One of the vendors invites you to lunch. What is the most appropriate response? A. Thank them but let them know this could be a conflict of interest since you haven't made a decision about which vendor you're going to choose. B. Thank them and decline. You know this could be considered personal gain, which could call your integrity into question. C. Thank them and accept. You don't believe there is a conflict of interest or a personal integrity issue. D. Thank them and decline. You believe this could be a conflict of interest on the part of the vendor, and you don't want to encourage that behavior.