- What is the primary purpose of a Risk Register?
- A) To document risk responses
- B) To list and track identified risks
- C) To calculate risk impact
- D) To allocate risk resources
- Answer: B) To list and track identified risks
- Which section of the Risk Register typically includes a description of each risk?
- A) Risk Description
- B) Risk Analysis
- C) Risk Mitigation
- D) Risk Impact
- Answer: A) Risk Description
- What information is commonly recorded in the Risk Register regarding risk likelihood?
- A) Risk Probability
- B) Risk Impact
- C) Risk Mitigation Plan
- D) Risk Owner
- Answer: A) Risk Probability
- Which column in the Risk Register is used to specify the person or team responsible for managing a risk?
- A) Risk Owner
- B) Risk Status
- C) Risk Description
- D) Risk Mitigation
- Answer: A) Risk Owner
- What is typically included in the Risk Mitigation section of the Risk Register?
- A) Strategies to reduce the likelihood or impact of the risk
- B) Risk Probability
- C) Risk Status
- D) Risk Impact
- Answer: A) Strategies to reduce the likelihood or impact of the risk
- Which section of the Risk Register details the potential consequences if the risk occurs?
- A) Risk Impact
- B) Risk Description
- C) Risk Owner
- D) Risk Mitigation
- Answer: A) Risk Impact
- What does the Risk Status column in the Risk Register represent?
- A) The current state of risk management activities
- B) The risk owner
- C) The risk likelihood
- D) The risk impact
- Answer: A) The current state of risk management activities
- Which section of the Risk Register is updated after implementing a risk response plan?
- A) Risk Status
- B) Risk Impact
- C) Risk Probability
- D) Risk Description
- Answer: A) Risk Status
- What is the purpose of documenting risk triggers in the Risk Register?
- A) To define indicators that a risk is about to occur
- B) To specify the risk owner
- C) To detail the risk impact
- D) To record the risk mitigation strategy
- Answer: A) To define indicators that a risk is about to occur
- Which section of the Risk Register helps in tracking the effectiveness of risk mitigation strategies?
- A) Risk Mitigation
- B) Risk Status
- C) Risk Probability
- D) Risk Owner
- Answer: B) Risk Status
- In the Risk Register, which term refers to the potential loss or gain associated with a risk?
- A) Risk Impact
- B) Risk Probability
- C) Risk Description
- D) Risk Mitigation
- Answer: A) Risk Impact
- Which part of the Risk Register outlines the steps to be taken if a risk materializes?
- A) Risk Response Plan
- B) Risk Description
- C) Risk Impact
- D) Risk Owner
- Answer: A) Risk Response Plan
- What is the purpose of the Risk Register’s Risk Probability column?
- A) To estimate the likelihood of the risk occurring
- B) To describe the risk in detail
- C) To list risk mitigation actions
- D) To identify the risk owner
- Answer: A) To estimate the likelihood of the risk occurring
- Which section of the Risk Register should be reviewed regularly to ensure up-to-date information?
- A) Risk Status
- B) Risk Impact
- C) Risk Mitigation
- D) Risk Description
- Answer: A) Risk Status
- What is usually recorded in the Risk Register’s Risk Mitigation Plan section?
- A) Actions to reduce the risk’s likelihood or impact
- B) Risk status updates
- C) Risk triggers
- D) Risk owner details
- Answer: A) Actions to reduce the risk’s likelihood or impact
- What type of information does the Risk Register’s Risk Description section provide?
- A) Detailed explanation of the risk
- B) Risk impact assessment
- C) Risk probability estimation
- D) Risk mitigation actions
- Answer: A) Detailed explanation of the risk
- Which column in the Risk Register helps in monitoring the progress of risk management efforts?
- A) Risk Status
- B) Risk Owner
- C) Risk Impact
- D) Risk Probability
- Answer: A) Risk Status
- In the Risk Register, what does the Risk Owner column identify?
- A) The individual or team responsible for managing the risk
- B) The likelihood of the risk occurring
- C) The potential impact of the risk
- D) The specific risk mitigation strategies
- Answer: A) The individual or team responsible for managing the risk
- What is the role of the Risk Register’s Risk Probability column?
- A) To assess how likely it is that the risk will occur
- B) To define the risk description
- C) To document the risk response plan
- D) To record the risk owner
- Answer: A) To assess how likely it is that the risk will occur
- Which section of the Risk Register should be updated with new risks as they are identified?
- A) Risk Description
- B) Risk Mitigation
- C) Risk Probability
- D) Risk Status
- Answer: A) Risk Description
- What should be included in the Risk Register’s Risk Response Plan section after a risk event occurs?
- A) Steps taken to address the risk and lessons learned
- B) The current status of the risk
- C) The likelihood and impact of the risk
- D) The name of the risk owner
- Answer: A) Steps taken to address the risk and lessons learned
- Which method can be used to prioritize risks in the Risk Register?
- A) Risk Matrix
- B) Fishbone Diagram
- C) SWOT Analysis
- D) Delphi Technique
- Answer: A) Risk Matrix
- What is the purpose of including risk triggers in the Risk Register?
- A) To identify early warning signs that a risk may occur
- B) To list mitigation strategies
- C) To record the risk owner
- D) To describe the risk impact
- Answer: A) To identify early warning signs that a risk may occur
- Which section of the Risk Register provides a summary of the overall risk management process?
- A) Risk Status
- B) Risk Description
- C) Risk Impact
- D) Risk Response Plan
- Answer: D) Risk Response Plan
- How often should the Risk Register be reviewed and updated?
- A) Regularly and as needed
- B) Annually
- C) Quarterly
- D) Only at project initiation
- Answer: A) Regularly and as needed
- What does the Risk Register’s Risk Impact column assess?
- A) The potential consequences if the risk occurs
- B) The likelihood of the risk occurring
- C) The risk response actions
- D) The risk owner
- Answer: A) The potential consequences if the risk occurs
- Which section of the Risk Register would include information on how to respond to a risk event?
- A) Risk Response Plan
- B) Risk Mitigation
- C) Risk Impact
- D) Risk Probability
- Answer: A) Risk Response Plan
- What information is typically found in the Risk Register’s Risk Mitigation section?
- A) Detailed plans and actions to mitigate each risk
- B) Risk triggers
- C) Risk status updates
- D) Risk owner names
- Answer: A) Detailed plans and actions to mitigate each risk
- Which column in the Risk Register helps in understanding the impact of risk mitigation strategies?
- A) Risk Status
- B) Risk Mitigation
- C) Risk Probability
- D) Risk Impact
- Answer: A) Risk Status
- What should be done if new risks are identified during a project?
- A) Add them to the Risk Register and update the relevant sections
- B) Ignore them until the end of the project
- C) Remove existing risks from the Risk Register
- D) Postpone updating the Risk Register until project completion
- Answer: A) Add them to the Risk Register and update the relevant sections