Risk Breakdown Structure (RBS) Exam 35 Questions with Answers 2023,100% CORRECT

Risk Breakdown Structure (RBS) Exam 35 Questions with Answers 2023 What is Risk Breakdown Structure (RBS)? - CORRECT ANSWER A Structured breakdown of the risks within a project. What are some impacts of risks in projects? - CORRECT ANSWER Over schedule, Over budget, Disagreement, Losing trust and more. Planned Risk Responses - CORRECT ANSWER Explain how to prepare when a problem actually occur. Different ways to deal with threats. - CORRECT ANSWER Changing the project, Have positive action, Acceptance and Forming a plan. Monitoring (Tracking) and Controlling Risks - CORRECT ANSWER A process of maintaining a focus on the project to see if threats form and acting to control it. Why is RBS important? - CORRECT ANSWER Any project can have unexpected events that can have a negative impact on the result of the project. Why is Risk Analysis challenging? - CORRECT ANSWER This can be from lack of communication of risks, lack of analysis of the risk, stakeholder actions and Cultural bias. What should Risk Analysis focus on? - CORRECT ANSWER Staff, Organizational, Technology, Environmental, Cultural and Legal Staff Question - CORRECT ANSWER What will happen is a staff member is unavailable or does not have the right skills? Organizational Question - CORRECT ANSWER What will happen when the is a conflict with sponsors or the management structure Technology Question - CORRECT ANSWER What if the technology does not meet the requirements or expectations of the project? Environmental Question - CORRECT ANSWER How can the environmental requirements and demands effect the development of the project? Cultural Question - CORRECT ANSWER How can a places cultural effect how the team members and the technology is used? Legal Question - CORRECT ANSWER Do the laws effect what materials and tactics can be used? Why was the Planned Risk Responses made? - CORRECT ANSWER It was developed for any problems that will most likely happen. It also show any possible things that have a very bad effects. What is the one of the best ways to come up with planned risk responses? - CORRECT ANSWER One of the best ways is to rely on the past experiences of a similar problem and what they did to fix it. One of the best ways to watch and contain risks is by developing and using a ... - CORRECT ANSWER Risk Log What does each level of the system mean? - CORRECT ANSWER Each lowing level is to be regarded as a detailed description of the possible risks in each category. Saying "What could possibly go wrong?" is another way of saying... - CORRECT ANSWER How would that influence the project deliverable? What do the top layers of a RBS mean? - CORRECT ANSWER The upper most layers of the structure are the general risk genres. Having a the materials from a vendor not meet expectations is a example of... - CORRECT ANSWER Organization Having people not being available on the right time is an example of... - CORRECT ANSWER Staff Having consequences when the natural resources met is an example of... - CORRECT ANSWER Environmental Being aware of the societal actions is an example of... - CORRECT ANSWER Cultural Having the right materials within the law is an example of... - CORRECT ANSWER Legal Having a specific electronics costing higher than expected is an example of... - CORRECT ANSWER Technology What are some examples of Human risks? - CORRECT ANSWER Individuals, stakeholder groups and departments. What are some examples of Operational risks? - CORRECT ANSWER Failure in placing, disruption in supplies and loss of entry of important assets. What are some examples of Reputation risks? - CORRECT ANSWER Lack of a business partner, no employee trust and damage to name in a market. What are some examples of Procedural risks? - CORRECT ANSWER Fails for accountability, internal systems and fraud. What are some examples of Project risks? - CORRECT ANSWER Loss of time, bad service quality and poor product. What are some examples of Financial risks? - CORRECT ANSWER Lower stock market, business failure and interest rates. What are some examples of Technical risks? - CORRECT ANSWER Application failure, outdated technology and system failure. What are some examples of Natural risks? - CORRECT ANSWER Disease, severe weather and accidental spills. What are some examples of Political risks? - CORRECT ANSWER Foreign conflict, public opinion and government ruling .