DİPLOMATİK YAZIŞMA VE PROTOKOL - Deneme Sınavı - 10

Decision Tree Analysis - The importance of risk in a project is not only related to the magnitude of its damage. The likelihood of risk is also effective. Based on this principle, it is possible to evaluate the threat value on the project as time and money with decision tree analysis. It is called a decision tree because it allows the presentation of a diagram representing the choices between at least two or more options. The answer is E.

Transferring risk and insurance: Transferring risk includes shifting the risks to the third party. The risk does not disappear. You transfer responsibility to a party outside the project. An example of this strategy is to delegate risky activities or work packages to a specialized supplier. Another example is the insurance method. The answer is B.

Mitigation includes reducing the likelihood of risk occurring or the effect of damage. For example, having the tests performed by two different end-users to prevent errors in a software project increases the likelihood that one tester will catch the error missed by another. Another example: When agreeing with a supplier, selecting a supplier who has already worked with our company can reduce many risks. The answer is A.

Monitoring Risks is the process of monitoring the implementation of agreed-upon risk response plans, tracking identified risks, identifying and analyzing new risks, and evaluating risk process effectiveness throughout the project. The answer is D.

All the given expressions about the risk monitoring are true. The answer is E.

Risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Overall project risk is the effect of uncertainty on the project as a whole, arising from all sources of uncertainty including individual risks, representing the exposure of stakeholders to the implications of variations in project outcome, both positive and negative. The answer is B.

There are two types of risks: individual risk and overall project risk. Individual risks are specific events or conditions that may affect project objectives. Individual risks can positively or negatively affect one or more of the project objectives, elements, or tasks. The answer is D.

Risk management planning is the process of defining how to conduct risk management activities for a project. The key benefit of this process is that it ensures that the degree, type, and visibility of risk management are proportionate to both risks and the importance of the project to the organization and other stakeholders. The answer is A.

Brainstorming - Brainstorming is to obtain a comprehensive list of individual project risks and sources of overall project risk. An efficient brainstorming session can help you to see the many risks associated with the project in a short time. For the success of the brainstorming sessions, people with different backgrounds, perspectives and expertise should be brought together. A brainstorming session will make it easier for you to set risk categories (techniques, processes, etc.) that you have previously set. The answer is C.

Checklists - Checklists are used to identify important issues to consider and ensure that they are not omitted. In the process of determining risks, checklists compiled from the problems experienced in previous projects, lessons learned or prepared in the sector specific are used. The checklist should assess whether the risks identified are valid for the current project. By reviewing the risk records of similar projects, you should add potential risks to your checklist for your current project. The risk checklist should be updated as the project progresses. The risk checklist should also be reviewed and updated during project closure. The answer is E.

The Risk Records, Assumption Log, and Stakeholder Register are inputs that contain detailed information on the risks to be analyzed. Records from past completed projects, similar to the project you are working on, help determine how to prioritize specific risks. The answer is B.

There are seven different tools and techniques that you can use to perform qualitative risk analysis:

• Expert Judgement - When conducting qualitative risk analysis, you will rely on the expert judgment of individuals and groups with expertise and knowledge about the project.

• Interviews - Interviews are conducted to collect the data needed to conduct a qualitative risk analysis.

• Interpersonal and team skills - Interpersonal and team skills to increase the effectiveness of qualitative risk analysis as they enable the project team and stakeholders to reach consensus and express their views. This ensures that the disputes between the participants are resolved and the process is carried out correctly. 

• Meetings - In the qualitative risk analysis process, the project team can organize risk workshops and meetings to review, evaluate, categorize, and prioritize project risks. 

• Risk categorization includes technical, external (suppliers, legal, etc.), and internal (infrastructure, resources, etc.) risk groups. It identifies the areas that may affect the project the most and provides the right risk response plan.

• Risk data quality assessment - If the information collected about the risks is incorrect, biased, or incomplete, the results of the qualitative analysis will not be reliable. Therefore, risk data quality assessment is performed during the qualitative risk analysis process. The source of the data, the accuracy of the data, its relevance to your project, and its specific conditions are evaluated. You may need to collect better quality data if the current data quality is not sufficient to perform a comprehensive analysis. 

• Risk probability and impact assessment - As another data analysis technique, risk probability and impact assessment is performed to determine the likelihood of a particular risk occurring in your project. 

Assumption analysis is used for quantitative risk analysis. The answer is C.

Performing Quantitative Risk Analysis is the process of numerically analyzing the combined effect of identified individual project risks and other sources of uncertainty on overall project objectives. In the qualitative risk analysis process, project risks are evaluated according to their probability and possible effects. In the process of quantitative risk analysis, risks are analyzed using more objective methods. Thus, to what extent the risks may affect the project objectives is determined numerically. The answer is E.

Sensitivity analysis - Sensitivity analysis is an analysis technique used to determine which variables in a system affect the system more. By fixing other variables, the effect of a variable on the system is tested by changing the values. For each of the variables, you can determine which one has the greatest effect by repeating the process one by one. The answer is A.

Exploit - It is aimed to find the best way to take advantage of the opportunity by eliminating the uncertainty in the project. For example, suppose that you are working on a new private school project. One of your friends said that a wellknown mathematics teacher was dissatisfied with the management of his current school and was in search of another school. Including that teacher in your staff will positively affect the prestige and quality of your new school. To take advantage of this opportunity, your proposal and negotiations with him may affect your project costs. However, the revenue you get from the opportunity will provide a return above these costs. The answer is D.

The Project Risk Management Plan, which describes what the risk management activities will be, should include the following
• The Project Risk Management Methodology is an explanation of how you plan to implement the project risk management plan.
• The roles and responsibilities of the persons performing the activities in the Project Risk Management Plan are explained.
• The budget, the unexpected situation and the principles of using a management reserve are specified for Project Risk Management.
• The timing of Project Risk Management (when, how often), the principles
regarding the use of contingency reserves related to the schedule, and the risk
management activities to be included in the project schedule are explained.
• Potential cause groups (Risk Categories) are identified.
• Risk probability and impact levels are defined. Stakeholder tolerances that are
valid for the project being studied are indicated on the Probability-Impact matrix.
• The content and format of risk reports, how to record risk activities and how to
manage risk management processes are explained.

Considering this, it can obvious that all the options are included in the plan.

SWOT analysis lists factors that have a definite impact on the project. The best way to perform SWOT analysis is to create a simple matrix for each of the four factors: Strength, Weaknesses, Opportunities, and Threats.

Decision Tree Analysis is a quantitative risk analysis technique.

Sensitivity analysis is an analysis technique used to determine which
variables in a system affect the system more. By fixing other variables, the effect of a variable on the system is tested by changing the values. For each of
the variables, you can determine which one has the greatest effect by repeating the process one by one.

Mitigation includes reducing the likelihood of risk occurring or the effect of damage. For example, having the tests performed by two different end-users to prevent errors in a software project increases the likelihood that one tester will catch the error missed by another. Another example: When agreeing with a supplier, selecting a supplier who has already worked with our company can reduce many risks.