You Work as a Project Manager for BlueWell Inc

question 105

Multiple Choice

You work as a project manager for BlueWell Inc. You are currently working with the project stakeholders to identify risks in your project. You understand that the qualitative risk assessment and analysis can reflect the attitude of the project team and other stakeholders to risk. Effective assessment of risk requires management of the risk attitudes of the participants. What should you, the project manager, do with assessment of identified risks in consideration of the attitude and bias of the participants towards the project risk?

• A) Document the bias for the risk events and communicate the bias with management
• B) Evaluate and document the bias towards the risk events
• C) Evaluate the bias through SWOT for true analysis of the risk events
• D) Evaluate the bias towards the risk events and correct the assessment accordingly

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Definitions:

Equivalent Units

A concept in process costing that converts partially completed units into a number of equivalent full units.

Direct Method

An approach used in cost accounting or cost allocation in which costs are directly assigned to cost objects, such as departments or products, without any allocation of indirect costs.

Service Department

A division within a company that supports other departments by providing internal services or assistance.

Computer Workstations

High-performance computers designed for technical or scientific applications.