DEALING WITH RISK AND UNCERTAINTY
PRACTICE TEST 2026 QUESTIONS WITH
ANSWERS GRADED A+
◉ In attempt to recognize and manage potential and unforeseen
trouble spots that may occur when the project is implemented is?
Answer: Risk management.
◉ What is a risk event? Answer: What can go wrong.A.k.a. risk event.
◉ How to minimize the risk of its impact is related to what
consequences or anticipation Answer: Consequences.
◉ What can be done before an event occurs is called anticipation
true or false? Answer: True.
◉ Contingency plans are? Answer: What to do with an event occurs.
◉ Chances of a risk occurring in the risk event graph are greater or
less or in the defining planning. Answer: Greater.
◉ The risk event graph shows the cost to fix risk event higher or
lower in the delivery phase? Answer: Higher.
, ◉ During the delivery period, the chances of risk occurring is high or
low? Answer: Low.
◉ What are the benefits to risk management? Answer: 1. Proactive
rather than reactive approach.
2. Reduces surprise negative consequences.
3. Prepares the project manager to take advantage of appropriate
risk.
4. Provides better control over the future
5. Improve chances of reaching project performance objectives
within budget and on time.
◉ What is the risk management process? Answer: -Step 1 risk
identification.
-Step 2 risk assessment.
-Step 3 risk response development.
-Step 4 risk response control.
◉ Risk identification is? Answer: To analyze the project to identify
source of risk.
◉ Risk assessment is? Answer: 1. Evaluate the severity of the
impact.
PRACTICE TEST 2026 QUESTIONS WITH
ANSWERS GRADED A+
◉ In attempt to recognize and manage potential and unforeseen
trouble spots that may occur when the project is implemented is?
Answer: Risk management.
◉ What is a risk event? Answer: What can go wrong.A.k.a. risk event.
◉ How to minimize the risk of its impact is related to what
consequences or anticipation Answer: Consequences.
◉ What can be done before an event occurs is called anticipation
true or false? Answer: True.
◉ Contingency plans are? Answer: What to do with an event occurs.
◉ Chances of a risk occurring in the risk event graph are greater or
less or in the defining planning. Answer: Greater.
◉ The risk event graph shows the cost to fix risk event higher or
lower in the delivery phase? Answer: Higher.
, ◉ During the delivery period, the chances of risk occurring is high or
low? Answer: Low.
◉ What are the benefits to risk management? Answer: 1. Proactive
rather than reactive approach.
2. Reduces surprise negative consequences.
3. Prepares the project manager to take advantage of appropriate
risk.
4. Provides better control over the future
5. Improve chances of reaching project performance objectives
within budget and on time.
◉ What is the risk management process? Answer: -Step 1 risk
identification.
-Step 2 risk assessment.
-Step 3 risk response development.
-Step 4 risk response control.
◉ Risk identification is? Answer: To analyze the project to identify
source of risk.
◉ Risk assessment is? Answer: 1. Evaluate the severity of the
impact.
