A. Is used to study tornadoes
B. Is used in sensitivity analysis
C. Is a bar chart with types of uncertainty at base values in the Y-axis
D. Shows spread or correlation of the uncertainty to the studied output on the X-axis
Answer choices: 1. A, B, D
2. A, B, C
3. B, C, D
4. C, D, A
162) Decision tree analysis is based on:
A. The use of low-quality risk data
B. Expected monetary value analysis
C. Fishbone technique
D. Using team members to identify risks
163) The EMV (Expected monetary value) of opportunities and threats are expressed as:
A. The use of low-quality risk data
B. Negative and positive values
C. Positive and negative values
D. Using team members to identify risks
Use the decision tree analysis diagram below for questions 164-172.
164) The EMV of the in-house solution before costs considering demands provided is:
A. $13.9M
B. $14.8M
C. $16.9M
D. $20M
165) The EMV of the vendor solution before costs considering demands provided is:
A. $13.9M
B. $14.8M
C. $30M
D. $20M
166) The decision EMV is:
A. $13.9M
B. $14.8M
C. $30M
D. $20M
167) What is the net effect of the payoffs minus costs for the in-house solution with strong demand?
A. $13.9M
B. $14.8M
C. $19M
D. $22M
168) What is the net effect of the payoffs minus costs for in-house solution with weak demand?
A. $13.9M
B. $14.8M
C. $5M
D. -$5M
169) What is the net effect of the payoffs minus costs for the vendor solution with strong demand?
A. $13.9M
B. $14.8M
C. $5M
D. $19M
170) What is the net effect of the payoffs minus costs for the vendor solution with weak demand?
A. $13.9M
B. $14.8M
C. $5M
D. -$5M
171) Which of the two options should be chosen based on the decision tree analysis?
A. Vendor solution
B. In-house solution
C. Either vendor solution or in-house solution as there is no difference
D. Can’t say
172) What do points A, B, and C stand for respectively?
A. Chance node, Decision node, End of branch
B. Decision node, Chance node, End of branch
C. End of branch, Chance node, Decision node
D. End of branch, Decision node, Chance node
Answer choices: 1. A
2. B
3. C
4. None of the above
173) You can motivate your team members by:
a. Offering bonus/compensation
b. Providing work that challenges them
c. Praising them in front of others making them feel accomplished
d. Promoting them to higher levels of responsibility if they are interested
Answer choices:
1. A and C
2. All of the above
3. None of the above
4. C
174) Your stakeholder wants to modify a requirement in the design phase of your project. You see that it is a risk that can impact your schedule. You talk to the stakeholder and move the requirement out to the next phase of the project. The risk response strategy you have implemented is:
A. Avoid
B. Transfer
C. Mitigate
D. Accept
175) You are managing a software upgrade project for your company. The new software is expected to be faster and perform better than the old software. There are many live reports that use the old software. The management has decided to let the old software run in parallel with the new software for a few months giving some time for the new software to stabilize and time for the team to fix possible issues, and eliminating the chance of total failure by going in alone with the new system. The risk response strategy you have implemented is:
A. Avoid
B. Transfer
C. Mitigate
D. Accept
176) You have decided to set aside a contingency reserve for handling some risks. The risk response strategy you have adopted is:
A. Avoid
B. Transfer
C. Mitigate
D. Accept
177) You are assigned to a software project that has a large scope, fixed deadline, and limited budget. The CEO is very interested in the project as it aligns with a new business channel the company will pursue and can bring in lots of revenue for the company. You assign some of the best resources in your department to work on the design and development of the project. The risk response strategy you are adopting is:
A. Share
B. Transfer
C. Mitigate
D. Exploit
178) You are managing a software project that has a large scope, fixed deadline, and limited budget. The CEO is very interested in the project as it aligns with a new business channel the company will pursue and can bring in lots of revenue for the company. In fact, if the project can go live a couple of weeks earlier than planned, that can significantly boost sales and revenue. You assign more resources to help with development and quality assurance and wrap up early. The risk response strategy you are adopting is:
A. Share
B. Enhance
C. Mitigate
D. Exploit
179) You are managing a software project that has a large scope, fixed deadline, and limited budget. The CEO is very interested in the project as it aligns with a new business channel the company will pursue and can bring in lots of revenue for the company. There are some requirements that another team in your company is more equipped to meet than your team. You call for a meeting with the other team’s manager, explain the project and the benefits to his team, and decide to partner with him to meet the deliverables. The risk response strategy you are adopting is:
A. Share
B. Enhance
C. Mitigate
D. Exploit
180) You work for a technology company that handles sensitive data situated in an earthquake-prone area. You prepare a plan that details actions to be taken in case of an earthquake. You mention that hard copies of data be maintained in a secure location offsite and back-up servers be run in another state. You are preparing the:
A. Failure plan
B. Risk plan
C. Contingency plan
D. Project management plan
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