Knowledge Check - Week 9
1. Risk – ANSWER An uncertain event o condition, that, if it occurs has a positive or
negative effect on one or more project objectives
2. Ambiguity risk - ANSWER uncertainty about what might happen in the future
3. Risk Breakdown Structure – ANSWER A hierarchical representation of potential sources
of risk
4. Risk Appetite – ANSWER A measurable risk threshold for each project objective as
determined by the stakeholders
5. SWOT Analysis – ANSWER Examining a project from each of the strengths,
weaknesses, opportunities and threats perspectives
6. Quantitative Risk Analysis – ANSWER Numerically analyzing the combined effect of
identified individual project risks and other sources of uncertainty
7. Risk Register – ANSWER A document that contains details of individual project risks
that are prioritized and have a response plan
8. Mitigate strategy – ANSWER A strategy to deal with a risk by taking action to reduce the
probability or impact of the threat
9. Escalate strategy – ANSWER A strategy to deal with a risk that is considered outside the
scope of the project by managing the response at the program or portfolio level
1. Risk – ANSWER An uncertain event o condition, that, if it occurs has a positive or
negative effect on one or more project objectives
2. Ambiguity risk - ANSWER uncertainty about what might happen in the future
3. Risk Breakdown Structure – ANSWER A hierarchical representation of potential sources
of risk
4. Risk Appetite – ANSWER A measurable risk threshold for each project objective as
determined by the stakeholders
5. SWOT Analysis – ANSWER Examining a project from each of the strengths,
weaknesses, opportunities and threats perspectives
6. Quantitative Risk Analysis – ANSWER Numerically analyzing the combined effect of
identified individual project risks and other sources of uncertainty
7. Risk Register – ANSWER A document that contains details of individual project risks
that are prioritized and have a response plan
8. Mitigate strategy – ANSWER A strategy to deal with a risk by taking action to reduce the
probability or impact of the threat
9. Escalate strategy – ANSWER A strategy to deal with a risk that is considered outside the
scope of the project by managing the response at the program or portfolio level
