Since risk is associated with most projects, the best course of action is to:

A cover all project risks by buying appropriate insurance

B ignore the risks, since nothing can be done about them and move forward with the project in an expeditious manner.

C avoid projects with clear and present risks

D eliminate all known risks prior to the execution phase of the project

E identify various risks and implement actions to mitigate their potential impact

45 Many companies self insure against some risk. Problems which can arise from self-insurance include:

A. failure to reserve funds to handle worst case scenarios (low probability events) resulting in severe financial damage to the company

B. stiff competition from insurance companies

C. confusion of business risks with insurable risks.

D. A and C

E. All of the above

31 Scope Management:

A. entails managing the project's work content.

B. is a subset of configuration management and as such is performed by CM specialists.

C. is concerned with naming all activities performed, the end products which results and the resources consumed.

D. is not a concern of the project manager.

E. None of the above

148 A project manager believes that modifying the scope of the project may provide added value for the customer. The project manager should:

A. Change the scope baseline

B. Prepare a variance report

C. Call a meeting of the configuration control board

D. Change the project's objectives

E. Postpone the modification until a separate enhancement project is funded after this project is completed according to the original baseline

The process of interpreting a message is:

A Decoding

B Receiving

C Encoding

D Feedback

E A and C