PMT 0170 Risk Management

Why are Monte Carlo simulations used in program schedule analysis? 10.2 - Answer- To find the cumulative effect of multiple risks on total project schedule duration or total project cost 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 in tracking and managing this issue? 15.3 - Answer- Adjust the corrective action plan and issue level as warranted. Since risks should be closely tied to individual tasks and deliverables, which of the following should be used as a cross-reference to each risk? 31.1 - Answer- Work Breakdown Structure (WBS) number The following describes which type of category of risk: Two legacy software systems must be combined into one system in order to operate a new piece of hardware. Programmers must find a way to ensure that old data records in each system are still editable. If not, the hardware will not operate correctly. 7.2 - Answer- Technical Which of the following is important for good government/contractor coordination of risk management (RM)? (Select two that apply.) 6.3 - Answer- Not: Common approaches to addressing risk. All personnel committing to plan and execute a successful risk management (RM) program Which of the following is a critical success factor to ensure effective risk management (RM)? 4.1 - Answer- Program Risk Process (PRP) Document Which stage of the issue management (IM) process is characterized by the following scenario: It has been observed that the battery used in the new portable Doppler-based wind measuring system doesn't maintain a charge for long periods of time. After some study, it is determined that the issue has only a moderate effect on the program's success. 15.1 - Answer- Not: Issue identification Which of the following is a step of the Department of Defense (DoD) Risk Management Process? 3.1 - Answer- Mitigation Whic