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Google Project Management Professional Certificate • STUDY MODE

RISK MANAGEMENT

QUESTION 1 OF 5

Define a risk as it relates to project management.

A
A risk is an event that might occur and could impact a project in the future.Correct Answer
B
A risk is a measurement that estimates the potential impact of events that could occur in the future.
C
A risk is a known problem that has already impacted a project.
D
A risk is a measurement that estimates the impact of known problems.
Explanation:

Risks are potential issues that may or may not occur. Project managers should prepare for them, just in case.

QUESTION 2 OF 5

What is the difference between a risk and an issue in project management?

A
An issue is a known problem; a risk is an event that might happen in the futureCorrect Answer
B
Risks and issues are both known problems, but they affect projects to different degrees
C
Risks and issues are both events that might happen in the future, but they could affect projects to different degrees.
D
A risk is a known problem; an issue is an event that might happen in the future
Explanation:

Issues are problems that have already impacted a project, while risks are the potential problems that could impact it in the future.

QUESTION 3 OF 5

Fill in the blank: Risk management is the process of _____.

A
identifying and avoiding projects that have a high potential for risk
B
identifying and initiating projects that have a low potential for risk
C
identifying and mitigating risks and issues that are already impacting a project
D
identifying and evaluating potential risks and issues that could impact a projectCorrect Answer
Explanation:

Risk management can help project managers make sure that risks don’t turn into known problems.

QUESTION 4 OF 5

Which of the following are true of risk management? Select all that apply.

A
It helps identify who a project manager should consult about a potential risk.Correct Answer
B
It helps determine how to mitigate potential risks.Correct Answer
C
It is a one-time exercise at the start of a project.
D
It reveals what could go wrong with a project.Correct Answer
Explanation:

Risk management can help improve communication between you and your stakeholders by informing them about potential risks before they become known issues. It also helps you avoid delays by pinpointing potential risks and determining how each potential risk could be mitigated. Explanation: Risk management can be helpful in creating a backup plan if something goes wrong. It can also help you avoid delays by pinpointing potential issues and determine who you’ll need to consult about each risk. Explanation: Risk management can help project managers avoid delays by pinpointing potential issues. It can also help you identify who you’ll need to consult about each risk and come up with a plan for how each potential risk could be mitigated.

QUESTION 5 OF 5

When planning for a project, what does risk management provide an understanding of? Select all that apply.

A
When to share project deliverables
B
Who to consult about risksCorrect Answer
C
How project risks could be mitigatedCorrect Answer
D
What could go wrong with the projectCorrect Answer
Explanation:

Risk management helps a project have a better chance of success. This is because risk management informs project managers about what could go wrong with a project, how project risks could be mitigated, and who to consult about each risk. Explanation: Planning ahead is key to meeting project goals, and mitigating risk is a key part of planning. By using risk management, project managers identify what could go wrong with a project, how project risks could be mitigated, and who to consult about each risk. Explanation: No project goes 100% according to plan, so if (or when) something goes wrong, it’s important to have a plan. Risk management helps project managers identify what could go wrong with a project, how project risks could be mitigated, and who to consult about each risk.

Ready to test your recall?

Define a risk as it relates to project management.

A
A risk is an event that might occur and could impact a project in the future.
B
A risk is a measurement that estimates the potential impact of events that could occur in the future.
C
A risk is a known problem that has already impacted a project.
D
A risk is a measurement that estimates the impact of known problems.

How confident are you in this answer?