Managing Risk in Operations Management Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. A risk matrix is an illustrated graph that combines which two factors to calculate the risk rating?

Question 2 2. Why would management want to create a risk register?

Question 3 3. How does cost variance (CV) relate to budget?

Question 4 4. How does a risk management plan help a manager?

Question 5 5. What is the difference between pre-mitigation probability and post-mitigation probability?

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Question 6 6. How is mathematics applied to risk analysis?

Question 7 7. The risk register assesses the likelihood of _____ and the _____ of the impact on the project.

Question 8 8. Which of the following is NOT a step in a risk contingency plan?

Question 9 9. What is earned value (EV)?

Question 10 10. What does a risk register do?

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Question 11 11. When a project is planned, variances are expected. What is the risk associated with variances?

Question 12 12. Which of the following areas do NOT pose a potential risk to a project?

Question 13 13. What is the first step in developing the risk management plan of a project?

Question 14 14. A manager is set to begin the planning stage of a new project at his company. He knows that risks will exist and will need to use a strategy to deal with them. Which of the following strategies are responses to risks that a manager can utilize?

Question 15 15. How is contingency risk defined?

Managing Risk in Operations Management Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Business 312: Advanced Operations Management  /  Business Courses
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