CLM 017 RISK MANAGEMENT EXAM

Which of the following is a good example of a framing assumption (FA)? - Answer- -Schedule timeframe will be adequate to develop prototype and final product. -Requirements will remain stable. -System deficiencies will be identified and fixed. -*Contractors will offer mature designs that allow prototypes to be delivered in five months.* Which of the following are attributes of a framing assumption (FA) in an acquisition program? (Select all that apply.) - Answer- -*No "work-arounds"* -*Critical* -*Foundational* -*Program-specific* Who may write the Program Risk Process (PRP) Document? - Answer- -*The program manager (PM) or a dedicated risk manager* -The Program Executive Officer (PEO) or the Risk Management Board (RMB) -The Risk Working Group or the Risk Management Board (RMB) -The Program Executive Officer (PEO) or the Integrated Product Team (IPT) management board The following describes which sources of potential risk: The software programming team is supposed to begin work in two months. The team has already been hired, but half of the team does not yet have their security clearance, and will not be able to start work on site until they do. - Answer- -External factors and requirements -*Management and security* -Logistics and external factors -Human systems integration and security Which of the following is a responsibility of the Integrated Product Team (IPT) during the risk management (RM) process? (I GOT THIS ANSWER WRONG) - Answer- -Coordinate RM efforts for risks affecting multiple IPTs. -*Approve risk closure for IPT-level risks and notify the program RMB for closure.* -Ensure the development of and approve the Program Risk Process (PRP) Document. -Brief the risk mitigation plan to the program or IPT Risk Management Board (RMB) for approval. Which of the following are the components of opportunity management (OM)? - Answer- -Likelihood, level, consequence -Level, priority, benefit -*Future root cause, probability, benefit* -Probability, cost