Question

In: Operations Management

1. Which risk response is illustrated by the following situation: Building an extra round of testing...

1. Which risk response is illustrated by the following situation: Building an extra round of testing to ensure your product meets requirements?

a. Accept

b. Mitigate

c. Transfer

d. Avoid

2. Which identify risk process technique identifies a problem, discovers the underlying cause that led to it and develops a preventative action?

a. SWOT analysis

b. Root cause analysis

c. Delphi technique

d. Assumption analysis

3. Which of the following is not an output of the quantitative risk analysis process?

a. Detailed probabilistic analysis of the project

b. Prioritized list of quantified risks

c. Trends in quantitative risk analysis results

d. Outcomes of risk audits

Expert Solution

Answer 1: Option D

Explanation: By building an extra round of testing, we can avoid any possible defects which may be missing right now.

Answer 2: Option B

Explanation: Root causes analysis is the process of solving the problem by identifying the problem, discover the underlying causes to it and then finding the right solution for the same.

Answer 3: Option D

Explanation: Outcomes of risk audit is not an outcome of the quantitative risk analysis process. On the other hand, probabilistic analysis of project, prioritised list of quantified tasks and Trend in quantified risk analysis are outcome of the quantitative risk analysis process.

keosha answered 2 years ago

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