©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Project Risk Management Exam
Questions and Answers | Rated A+
Project Risk - ✔✔Project Risk is an uncertain event or condition that, if it
occurs, has a positive or negative effect on a project's objectives.
What's the role of Risk Management? - ✔✔1. It addresses the uncertainty
in project estimates and assumptions
2. It's not a substitute for other PM processes
3. It's applicable throughout a project life cycle
4. It provides realistic expectations for the completion date and cost of the
project
5. It enhances the value of other project management processes
How will you practice good Risk Management? - ✔✔1. Consistent with
existing organization practices and policies
2. Appropriate to the project
3. Implemented according to business challenges and multi-cultural
environment
, ©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
4. Conducted in compliance with the internal and external requirements of
the project.
5. Conducted ethically according to the PM code of ethics
6. Conducted on all projects in proportion to the characteristics of the
project under management
6 Critical Success Factors for Project Risk Management - ✔✔1. Recognize
the value of Risk Mgmt
2. Individual Commitment Responsibility
3. It's necessary to have open and honest communication
4. Organizational commitment
5. Risk efforts scaled to project
6. Integration with Project Management
Project Risk Management - ✔✔Includes the processes concerned with
conducting risk management planning, identification, analysis, responses,
and monitoring and control of a project.
Purpose of Project Risk Management - ✔✔To increase the probability and
impact of positive envents and decrease the probablity and impact of
events adverse to project objectives.
Project Risk Management Exam
Questions and Answers | Rated A+
Project Risk - ✔✔Project Risk is an uncertain event or condition that, if it
occurs, has a positive or negative effect on a project's objectives.
What's the role of Risk Management? - ✔✔1. It addresses the uncertainty
in project estimates and assumptions
2. It's not a substitute for other PM processes
3. It's applicable throughout a project life cycle
4. It provides realistic expectations for the completion date and cost of the
project
5. It enhances the value of other project management processes
How will you practice good Risk Management? - ✔✔1. Consistent with
existing organization practices and policies
2. Appropriate to the project
3. Implemented according to business challenges and multi-cultural
environment
, ©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
4. Conducted in compliance with the internal and external requirements of
the project.
5. Conducted ethically according to the PM code of ethics
6. Conducted on all projects in proportion to the characteristics of the
project under management
6 Critical Success Factors for Project Risk Management - ✔✔1. Recognize
the value of Risk Mgmt
2. Individual Commitment Responsibility
3. It's necessary to have open and honest communication
4. Organizational commitment
5. Risk efforts scaled to project
6. Integration with Project Management
Project Risk Management - ✔✔Includes the processes concerned with
conducting risk management planning, identification, analysis, responses,
and monitoring and control of a project.
Purpose of Project Risk Management - ✔✔To increase the probability and
impact of positive envents and decrease the probablity and impact of
events adverse to project objectives.
