CS615 - Software Project Management: Risk and Change Management MCQs with Answers & Solutions | VU SIGMA – Page 7 of 11

Question 1

What is the core purpose of risk analysis and management in a software project, and what three common forms of project uncertainties can arise if risks are left unaddressed?

Accepted Answer

The core purpose of risk analysis and management is to help a software team understand and manage uncertainty. If left unaddressed, these uncertainties can arise in the form of increased costs, schedule delays, and diminished qualities, which can ultimately lead to major project disasters.

Question 2

A software risk is fundamentally characterized as a potential problem that may or may not occur. What two essential attributes must be quantified when analyzing any software risk?

Accepted Answer

Uncertainty and loss

Answer

Complexity and sizing

Answer

Scope and critical path

Answer

Predecessors and successors

Question 3

Describe the complete four-step sequence of proactive risk management in software engineering as outlined in the project planning framework.

Accepted Answer

1. Risk Identification: Systematically identifying known and predictable threats to the project plan, such as unrealistic deadlines or poor communication.
2. Risk Projection (Estimation): Rating each identified risk by assessing its likelihood of occurrence and its potential consequences.
3. Risk Mitigation: Working early in the project to reduce the probability of the risk occurring through targeted technical and administrative actions.
4. Contingency Planning: Developing alternative action plans to enable a controlled, effective response should mitigation efforts fail and the risk becomes a reality.

Question 4

Software risk is defined as the possibility of loss. According to the project planning framework, under what specific conditions does software risk arise?

Accepted Answer

It arises due to the inability to achieve objectives within defined cost, schedule, and technical constraints.

Answer

It arises from an over-allocation of highly skilled developers during the initiation phase.

Answer

It arises exclusively from the failure of hardware components and physical servers in the operational environment.

Answer

It arises from the customer's refusal to accept any modification to the initial project charter.

Question 5

According to risk management concepts, what is the core purpose of a risk management strategy, and how does it help a software project manager keep the project on track?

Accepted Answer

Risk management is a set of actions that helps a project manager plan for and deal with uncertain occurrences. Its core purpose is to focus the manager's attention on the portions of the project most likely to cause trouble, allowing them to assess and reduce threats to an acceptable level.

Question 6

Explain the concept of risk refinement in project planning and state the standard format used to represent a refined risk.

Accepted Answer

Risk refinement involves breaking down a general, high-level risk into a set of detailed, specific risks that are easier to monitor, mitigate, and manage. It is structured using the Condition-Transition-Consequence (CTC) format: 'Given that , then there is concern that (possibly) '.

Question 7

What is risk refinement? Explain how a project manager can utilize the Condition-Transition-Consequence (CTC) format to refine a general risk, and illustrate this process with a detailed three-part sub-condition example based on component reuse.

Accepted Answer

1. Risk Refinement: The process of taking a generally stated risk and decomposing it into smaller, detailed risks that are easier to mitigate, monitor, and manage as more project information becomes available. 2. CTC Format: This format structures a risk as: 'Given that , then there is concern that (possibly) '. It separates the current trigger event or fact (the condition) from the potential future negative outcome (the consequence). 3. Component Reuse Example: A general risk of low component reuse can be refined into three specific sub-conditions using CTC: - Sub-condition 1: Given that some reusable components were developed by a third party with no knowledge of internal design standards, then there is concern that integration will fail. - Sub-condition 2: Given that the design standard for component interfaces is not yet solidified, then there is concern that planned reusable modules will not integrate. - Sub-condition 3: Given that certain reusable components are written in a language unsupported by the target environment, then there is concern that 30 percent of components must be custom-developed from scratch.

Question 8

Software risk analysis and management consist of a series of systematic steps that help a software team to understand and manage ________.

Accepted Answer

Uncertainty

Answer

Crises

Answer

Problem

Answer

Change

Question 9

To ________ risks from occurring, the project team prepares the risk management plan before the commencement of the project.

Accepted Answer

Avoid

Answer

Deal

Answer

End Manage

Answer

None of given

Question 10

Risk analysis and management consist of a series of steps that help a software team to understand and manage ________.

Accepted Answer

Uncertainty

Answer

Crises

Answer

Problem

Answer

None of given

Risk and Change Management

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