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15
×
The process of tracking identified risks, monitoring residual risks, and evaluating risk process effectiveness is called risk ____________.
Monitoring
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15
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What is the term for a numerical estimate of overall project risk exposure?
Risk Score
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15
×
Qualitative risk analysis provides numerical estimates for probability and impact.
False
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15
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Which type of risk response involves assigning responsibility to a third party?
Transfer
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15
×
Subcontractor bankruptcy is an example of a commercial risk.
True
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15
×
Risk avoidance is the best strategy for all high-impact risks in a construction project.
False
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baam
Lose 10 points!
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gift
Win 10 points!
Okay!
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rocket
Go to first place!
Okay!
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baam
Lose 25 points!
Oops!
15
×
Scope changes during construction often introduce new risks to the project.
True
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15
×
What is the formal process used to evaluate and prioritize risks?
Risk Assessment
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boom
Lose 50 points!
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magnet
Take 10 points!
Okay!
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fairy
Take points!
5
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15
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25
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banana
Go to last place!
Oops!
15
×
____________ risk refers to errors or omissions in technical specifications or designs.
Design
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15
×
Risks with both high impact and high probability are typically classified as ____________ priority.
Critical
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15
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What risk response strategy involves changing the project plan to eliminate the threat?
Avoidance
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15
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What document is used to formally log each identified risk and its response plan?
Risk Register
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15
×
The ____________ matrix helps visualize risk severity based on probability and impact.
Risk
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trap
No points!
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gift
Win 10 points!
Okay!
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fairy
Take points!
5
10
15
20
25
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thief
Give points!
5
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25
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