MGT 172 UCSD EXAM QUESTIONS AND
ANSWERS GRADED A+ 2025/2026
Risk - ANS An uncertain event that, if it occurs, has a positive or negative effect on project
objectives
Risk Management - ANS A proactive attempt to recognize and manage internal events and
external threats that affect the likelihood of a project's success
The Risk Management Process - ANS 1. Risk Identification
2. Risk Assessment
3. Risk Response Development
4. Risk Response Control
Possible Risks for Risk Identification - ANS Macro risks first, then specific events
Technical Risks
Schedule Risks
Cost Risks
Contract Risks
Subcontract Risks
Funding Risks
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
,Risk assessment form - ANS Tool used to assess the impact of risks on a project
Likelihood, Impact, Detection Difficulty
Risk Severity Matrix - ANS provides a basis for prioritizing which risks to address using color
coded zones (red, yellow, green)
Consequence vs. Likelihood
Risk Response Development - ANS Mitigating
Transferring
Avoiding
Retaining
(MTAR)
Contingency Plan - ANS An alternative plan that will be used if a possible foreseen risk event
actually occurs
Opportunity Management Approaches - ANS Exploit
Share
Enhance
Accept
Contingency Funds - ANS Funds to cover project risks—identified and unknown
Budget Reserves - ANS Are linked to the identified risks of specific work packages known
unknowns
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, Known risks
Management Reserves - ANS Funds to be used to cover major unforeseen risks of the total
project
Unknown risks
Controlled by PM to be released as needed
Time Buffers - ANS Amount of time used to cover major unforeseen risk delays in the overall
project schedule
TOTAL SLACK
Project network times are not a valid schedule until... - ANS Resources have been assigned,
including people, materials, and equipment (Resource Assigning)
Assigning Resources (to where) - ANS Resources are assigned to Work Packages based on the
BOE
Since the tasks are time-phased - assigning resources results in a time-phased resource usage
profile
Assigning resources answers the following questions - ANS Will the resources be adequate
and available to support the project?
Will the project need contractors?
How much flexibility is there in using the resources?
Is the original deadline realistic considering resources?
Resource Histogram - ANS Displays resource usage versus resource availability
3 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
ANSWERS GRADED A+ 2025/2026
Risk - ANS An uncertain event that, if it occurs, has a positive or negative effect on project
objectives
Risk Management - ANS A proactive attempt to recognize and manage internal events and
external threats that affect the likelihood of a project's success
The Risk Management Process - ANS 1. Risk Identification
2. Risk Assessment
3. Risk Response Development
4. Risk Response Control
Possible Risks for Risk Identification - ANS Macro risks first, then specific events
Technical Risks
Schedule Risks
Cost Risks
Contract Risks
Subcontract Risks
Funding Risks
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
,Risk assessment form - ANS Tool used to assess the impact of risks on a project
Likelihood, Impact, Detection Difficulty
Risk Severity Matrix - ANS provides a basis for prioritizing which risks to address using color
coded zones (red, yellow, green)
Consequence vs. Likelihood
Risk Response Development - ANS Mitigating
Transferring
Avoiding
Retaining
(MTAR)
Contingency Plan - ANS An alternative plan that will be used if a possible foreseen risk event
actually occurs
Opportunity Management Approaches - ANS Exploit
Share
Enhance
Accept
Contingency Funds - ANS Funds to cover project risks—identified and unknown
Budget Reserves - ANS Are linked to the identified risks of specific work packages known
unknowns
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, Known risks
Management Reserves - ANS Funds to be used to cover major unforeseen risks of the total
project
Unknown risks
Controlled by PM to be released as needed
Time Buffers - ANS Amount of time used to cover major unforeseen risk delays in the overall
project schedule
TOTAL SLACK
Project network times are not a valid schedule until... - ANS Resources have been assigned,
including people, materials, and equipment (Resource Assigning)
Assigning Resources (to where) - ANS Resources are assigned to Work Packages based on the
BOE
Since the tasks are time-phased - assigning resources results in a time-phased resource usage
profile
Assigning resources answers the following questions - ANS Will the resources be adequate
and available to support the project?
Will the project need contractors?
How much flexibility is there in using the resources?
Is the original deadline realistic considering resources?
Resource Histogram - ANS Displays resource usage versus resource availability
3 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
