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1. In the context of risk management, what does the term "tornado diagram" refer to?
Response:
A) A tool used in Delphi Technique discussions
B) A technique to estimate the overall project risk score
C) A method to calculate the project,s return on investment
D) A visual representation of the impact of individual risks on project outcomes
2. What is the primary goal of a communication escalation process in mitigating communication issues?
Response:
A) To allocate project resources
B) To eliminate project risks
C) To escalate conflicts
D) To ensure that communication challenges are addressed by the appropriate parties in a timely manner
3. During the implementation of innovative planning tools, what is the role of 4D scheduling?
Response:
A) To allocate project resources
B) To eliminate project risks
C) To link the project schedule with the visual representation of the project,s progress over time
D) To escalate conflicts
4. What is the primary focus of a change log in the change order process?
Response:
A) To allocate project resources
B) To eliminate project risks
C) To escalate conflicts
D) To track and document all change requests, their status, and outcomes
5. In the context of risk management, what is the primary purpose of a Monte Carlo Simulation?
Response:
A) To model the impact of multiple risks and uncertainties on project outcomes
B) To assess the effectiveness of risk responses
C) To identify new risks
D) To analyze the potential impact of individual risks
Solutions:
Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: A |
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