Miscellaneous Quiz / FSUProject Management ch 11

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Can you name the PM ch 11?

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definitionword
a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment
provisions held by the project sponsor or organization to reduce the risk of cost or schedule overruns to an acceptable level; also called contingency reserves
predefined actions that the project team will take if an identified risk event occurs
provisions held by the project sponsor or organization to reduce the risk of cost or schedule overruns to an acceptable level; also called contingency allowances
a diagramming analysis technique used to help select the best course of action in situations in which future outcomes are uncertain
an approach used to derive a consensus among a panel of experts, to make predictions about future developments
the product of the risk event probability and the risk event’s monetary value
plans developed for risks that have a high impact on meeting project objectives, to be implemented if attempts to reduce the risk are not effective
diagrams that show how various elements of a system relate to each other
definitionword
diagram that represents decision problems by displaying essential elements, including decisions, uncertainties, and objectives, and how they influence each other
a fact-finding technique that is normally done face-to-face, but can also occur through phone calls, e-mail, or instant messaging
risks that the project team have identified and analyzed and can be managed proactively
a risk quantification technique that stimulates a model’s outcome many times, to provide a statistical distribution of the calculated results
a matrix or chart that lists the relative probability of a risk occurring on one side of a matrix or axis on a chart and the relative impact of the risk occurring on the other
risks that remain after all of the response strategies have been implemented
an uncertainty that can have a negative or positive effect on meeting project objectives
accepting the consequences should a risk occur
having a low tolerance for risk
definitionword
eliminating a specific threat or risk, usually by eliminating its causes
a hierarchy of potential risk categories for a project
changing the size of an opportunity by identifying and maximizing key drivers of the positive risk
specific uncertain events that may occur to the detriment or enhancement of the project
doing whatever you can to make sure the positive risk happens
numbers that represent overall risk of special events, given their probability of occurring and the consequence to the project if they do occur
a plan that documents the procedures for managing risk throughout a project
reducing the impact of a risk event by reducing the probability of its occurrence
a balance between risk and payoff
definitionword
the person who will take responsibility for a risk and its associated response strategies and tasks
a document that contains results of various risk management processes, often displayed in a table or spreadsheet format
having a high tolerance for risk
allocating ownership of the risk to another party
the amount of satisfaction or pleasure received from a potential payoff, also called risk utility
shifting the consequence of a risk and responsibility for its management to a third party
the amount of satisfaction or pleasure received from a potential payoff, also called risk tolerance
projects that have significant cost or schedule overruns
risks that are a direct result of implementing a risk response
definitionword
a technique used to show the effects of changing one or more variables on an outcome
a qualitative risk analysis tool for identifying risks and maintain an awareness of risks throughout the life of a project
indications for actual risk events
risks that have not been identified and analyzed so they cannot be managed proactively
a list of risks that are low priority, but are still identified as potential risks
unplanned responses to risk events when there are no contingency plans in place
initiating
planning
planning
definitionword
planning
planning
planning
executing
monitoring and controlling
closing

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