Test - CLM 017 Risk Management Exam
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which of the following is a good example of a framing assumption (FA)? - CORRECT
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.) - CORRECT ANSWER --*No "work-arounds"*
-*Critical*
-*Foundational*
-*Program-specific*
Who may write the Program Risk Process (PRP) Document? - CORRECT 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.
- CORRECT 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) - CORRECT 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)? - CORRECT
ANSWER --Likelihood, level, consequence
-Level, priority, benefit
-*Future root cause, probability, benefit*
-Probability, cost, future root cause
During Engineering and Manufacturing Development (EMD), risks should be identified related
to critical manufacturing process and key product characteristics in which of the following risk
areas? (Select all that apply.) - CORRECT ANSWER --Cost/Funding
-Threat
-*Manufacturing*
-*Supply Chain*
Based on the results of a simulation, there is a 50% chance that the project will end three weeks
behind schedule. Using the table provided, what would the cumulative schedule risk be, based on
a three-week schedule delay?
Level Probability of Occurrence Schedule Impact
1 0% to 19% 0 to 5 days
2 20% to 39% 6 to 12 days
3 40% to 59% 13 to 19 days
4 60% to 79% 20 to 28 days
5 80% to 100% 29 to 35 days - CORRECT ANSWER --Probability 5; Schedule Impact 2
-Probability 2; Schedule Impact 2
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which of the following is a good example of a framing assumption (FA)? - CORRECT
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.) - CORRECT ANSWER --*No "work-arounds"*
-*Critical*
-*Foundational*
-*Program-specific*
Who may write the Program Risk Process (PRP) Document? - CORRECT 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.
- CORRECT 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) - CORRECT 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)? - CORRECT
ANSWER --Likelihood, level, consequence
-Level, priority, benefit
-*Future root cause, probability, benefit*
-Probability, cost, future root cause
During Engineering and Manufacturing Development (EMD), risks should be identified related
to critical manufacturing process and key product characteristics in which of the following risk
areas? (Select all that apply.) - CORRECT ANSWER --Cost/Funding
-Threat
-*Manufacturing*
-*Supply Chain*
Based on the results of a simulation, there is a 50% chance that the project will end three weeks
behind schedule. Using the table provided, what would the cumulative schedule risk be, based on
a three-week schedule delay?
Level Probability of Occurrence Schedule Impact
1 0% to 19% 0 to 5 days
2 20% to 39% 6 to 12 days
3 40% to 59% 13 to 19 days
4 60% to 79% 20 to 28 days
5 80% to 100% 29 to 35 days - CORRECT ANSWER --Probability 5; Schedule Impact 2
-Probability 2; Schedule Impact 2
