The first step in managing projeet risk is: a) Risk identification b) Risk asses

Question

The first step in managing projeet risk is: a) Risk identification b) Risk assessment c) Risk planning d) Risk monitoring and control e) Risk evaluation 1.27 1.28 A distributions that has a mean which is equal to (a+4btc)/6, wherea denote optimistic, most likely, and pessimistic estimates respectively is: a) Discrete distribution b) Normal distribution c) Pert distribution d) Triangular distribution e) Binomial distribution 1.29 Receiving a much larger than usual gas utility bill because of an ear spell is an example of what type of risk? a) Known risk b) Known-unknown risk c) Unknown-unknown risk d) Known-known e) None of the above A residual risk that we cannot even imagine happening is: a) Known risk b) Known-unknown risk c) Unknown-unknown risk d) Known-known e) None of the above 1.30 1 In a normal distribution we would expect to find +-2 standard deviation: a) 13% b) 35% c) 68% d) 95% e) 99%

Explanation / Answer

1.27) (a) risk identification

Steps in managing project risk are:

Identifying the risk à analyzing the risk à evaluating or ranking the risks à treating the risk or risk response planning à monitoring and reviewing the risk

1.28) c) PERT distribution

In PERT distribution, expected value of time of each activity is given by te=(a+4b+c)/6, where a=optimistic time estimate, b=most likely time estimate, and c=pessimistic time estimate for the activity.

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