Risk Breakdown Structure (RBS)Exam Questions & Answers 100% Correct!!

What is Risk Breakdown Structure (RBS)? - ANSWERIs an hierarchical representation of risks, starting from higher levels and going down to finer level risks. What are the impacts that risks have on a project? - ANSWERUncertain events or sets of circumstances that, if they occur, would affect the project objectives. What is Planned Risk Responses? - ANSWERIs the process for developing options and actions to enhance opportunities, and to reduce threats to project objectives. What is Planned Risk Responses? (continued) - ANSWERThe process of developing strategic options, and determining actions, to enhance opportunities and reduce threats to the project's objectives. What is Monitoring and Controlling Risks? - ANSWERThe process for tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans, and evaluating their effectiveness throughout the project life cycle Why perform Risk Breakdown Structure - ANSWERSuch a hierarchical structure of risk sources should be known as a Risk Breakdown Structure Why is Risk Analysis difficult? - ANSWER- Too many contributors that don't add value. - Risk assessment forms are long and difficult to fill out. - Lack of training on how to successfully perform a risk evaluation. - Inability to challenge assumptions. - Insufficient challenging of the controls. Risk Analyses Should Focus on the following - ANSWERstaff cultural legal organizational Question about STAFF - ANSWERwhat happens if staff inst available soon enough Questions about Technology - ANSWERwhat if technology cost is higher than anticipated Questions about Technology - ANSWERWhat is the totality of its effects, its "ecology"? Questions about Technology - ANSWERWhat are its effects on relationships?