CLM 017 Final Exam Questions And All Correct Answers.
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Course
PMT 0170 RISK MANAGEMENT
Institution
PMT 0170 RISK MANAGEMENT
Why is it important to collaborate with contractors on risk management (RM)? - Answer Most issues begin with the contractor, so it is essential for the government to prevent risks (NOT)
Which of the following are typical sources of framing assumptions (FAs)? (Select all that apply.) - Answer ...
CLM 017 Final Exam Questions And All
Correct Answers.
Why is it important to collaborate with contractors on risk management (RM)? - Answer Most issues
begin with the contractor, so it is essential for the government to prevent risks (NOT)
Which of the following are typical sources of framing assumptions (FAs)? (Select all that apply.) - Answer
-Technological and engineering challenges
-Interdependencies with other programs
-Cost, schedule, and requirements tradeoffs
During which phase should you be building and maintaining robust stakeholder relationships and
ensuring horizontal and vertical communications? - Answer MSA, TMRR, EMD
What would be the appropriate corrective action for the following issue: One of the orders for materials
is going to run 75% over budget because the order will have to be shipped by air to meet schedule
requirements. The budgeting team may be able to find funds from other sources. - Answer Transfer
Which of the following is a responsibility of the Integrated Product Team (IPT) during the risk
management (RM) process? - Answer Coordinate RM efforts for risks affecting multiple IPTs.
What is the main differences between a risk and an opportunity? - Answer Risks have a negative
consequence, while opportunities requires creating additional tasks.
A Monte Carlo simulation reports a 75% chance that the prototyping tasks associated with a new
Doppler-based wind measuring technology will be delayed 17 business days due to supply shortages of
two key pieces of equipment. Based on the likelihood and consequence table, which of the following
represents the appropriate location on the risk matrix? - Answer L = 4; C = 2
During Technology Maturation and Risk Reduction (TMRR), the goal is to primarily reduce which types of
risk? (Select all that apply.) - Answer -Technology
-Integration
, -Engineering
Based on the results of a simulation, there is a 70% chance that the project will end two weeks behind
schedule. Using the table provided, what would the cumulative schedule risk be, based on a two-week
schedule delay? - Answer Probability 4; Schedule Impact 2
Which of the following is the difference between a risk and an issue? - Answer A risk is the potential of
occurring; and issue has occurred or is certain to occur.
Which of the following is a critical success factor to ensure effective risk management (RM)? - Answer -
Program Risk Process (PRP) Document
Who may write the Program Risk Process (PRP) Document? - Answer The program manager (PM) or a
dedicated risk manager
The following describes which type of category of risk: Certification for a new weapons system is
scheduled for January. The test is dependent on temperatures below freezing. If the temperature is too
warm, the system cannot be certified. - Answer Business
Your program is developing a piece of equipment that require a seismograph to identify and track low
ground vibrations within a specific range. You need to understand how well the design and
manufacturing process will be able to meet the performance goals. Which tool will provide that
information? - Answer Performance risk analysis (PRA)
Your program is planning on visiting a cooperating country to conduct an information-sharing event with
military counterparts. While the government is strategically allied with U.S. interests, popular opposition
to U.S. policies has been growing in strength and has turned to increasingly violent demonstrations on
the streets. Which risk mitigation technique should you choose for this security risk? - Answer
Avoidance
Within a program, which of the following entities is responsible for ensuring the risk management (RM)
process is executed according to the Program Risk Process (PRP) Document? - Answer Risk
Management Board (RMB)
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