CLM 017 Exam Study Guide Graded A With Verified Solutions

Why is it important to collaborate with contractors on risk management (RM)? - 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.) - -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? - 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. - Transfer Which of the following is a responsibility of the Integrated Product Team (IPT) during the risk management (RM) process? - Coordinate RM efforts for risks affecting multiple IPTs. What is the main differences between a risk and an opportunity? - 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? - 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.) - -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? - Probability 4; Schedule Impact 2 Which of the following is the difference between a risk and an issue? - 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)? - -Program Risk Process (PRP) Document Who may write the Program Risk Process (PRP) Document? - 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. - 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? - 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? - 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? - Risk Management Board (RMB) A shortage of steel has caused a delay in one of the tasks until the material is available. The original plan estimated the material to be available in 6 weeks, but the shortage continues. What would be an appropriate step to tracking and managing this issue? - -Adjust the corrective action plan and issue level as warranted Monte Carlo simulations use computational algorithms to simulate the behavior of various systems in a nondeterministic manner. Why are these "nondeterministic" results important to program schedule analysis? - Because there are one or more points in the simulation where a choice is made between different paths, without any specific guidance on which one will be chosen Which of the following is a good example of a framing assumption (FA)? - The ballistic missile program will achieve Initial Operational Capability (IOC) in time to use the systems procured by this program