STQM Chapters 4-5 UPDATED ACTUAL Exam Questions and
CORRECT Answers
Scope - Identifies the boundaries of the risk management plan, includes items like the extent the
plan will be organized, level of implementation, range of view and outlook, degree of application
and operation, and measurement of effectiveness.
Scope creep - A problem that comes from uncontrolled changes, where the project keeps growing
and bringing in new requirements.
Stakeholder - An individual or group that has a stake, or interest, in the success of a project.
Key stakeholder - A stakeholder who has authority to make decisions about the project, including
the ability to grant additional resources.
Risk management project manager (PM) - The person responsible for the overall success of the
plan. Common tasks include ensuring: costs are controlled, quality is maintained, the project
stays on schedule and within scope, information is available to all stakeholders, others are aware
of their responsibilities and deadlines, tracking and managing all project issues, and raising
issues and problems as they become known.
Risk identification - The process that includes identifying threats and vulnerabilities.
Risk mitigation steps - The process of identifying steps that can reduce weaknesses, and it can
also include steps to reduce the impact of the risk.
The risk management project manager (PM) - Who is often responsible for compiling reports?
, Management - A risk management plan includes steps to mitigate risks. Who is responsible for
choosing what steps to implement?
Recommendation, justification, procedures - What should be in the procedures part of a risk
management plan?
Reporting requirements - Present recommendations, document management response to
recommendations, document and track implementation of accepted recommendations, and create
a plan of action and milestones (POAM)
More reporting requirements - Findings, recommendation cost and time frame, and cost-benefit
analysis
Cause and effect diagram (fishbone diagram) (ishikawa diagram) - A diagram that shows many
causes or contributing factors of an end result, or effect
Cost-Benefit Analysis (CBA) - A process used to determine how to manage a risk. If the benefits
of a control outweigh the costs, the control can be implemented to reduce the risk. If the costs are
greater than the benefits, the risk can be accepted.
Risk statement - This can be used to communicate a risk and the resulting impact. It is often
written in the form of "if/then" statements.
Plan of action and milestones (POAM) - A document used to track progress, and it is used to
assign responsibility and to allow management follow-up. It is a living document, it should be
constantly updated. It should include: the tasks that need to be accomplished, the resources
required to accomplish the elements of the plan, any milestones in meeting the tasks, and
scheduled completion dates for the milestones.
Milestone - A scheduled event.
CORRECT Answers
Scope - Identifies the boundaries of the risk management plan, includes items like the extent the
plan will be organized, level of implementation, range of view and outlook, degree of application
and operation, and measurement of effectiveness.
Scope creep - A problem that comes from uncontrolled changes, where the project keeps growing
and bringing in new requirements.
Stakeholder - An individual or group that has a stake, or interest, in the success of a project.
Key stakeholder - A stakeholder who has authority to make decisions about the project, including
the ability to grant additional resources.
Risk management project manager (PM) - The person responsible for the overall success of the
plan. Common tasks include ensuring: costs are controlled, quality is maintained, the project
stays on schedule and within scope, information is available to all stakeholders, others are aware
of their responsibilities and deadlines, tracking and managing all project issues, and raising
issues and problems as they become known.
Risk identification - The process that includes identifying threats and vulnerabilities.
Risk mitigation steps - The process of identifying steps that can reduce weaknesses, and it can
also include steps to reduce the impact of the risk.
The risk management project manager (PM) - Who is often responsible for compiling reports?
, Management - A risk management plan includes steps to mitigate risks. Who is responsible for
choosing what steps to implement?
Recommendation, justification, procedures - What should be in the procedures part of a risk
management plan?
Reporting requirements - Present recommendations, document management response to
recommendations, document and track implementation of accepted recommendations, and create
a plan of action and milestones (POAM)
More reporting requirements - Findings, recommendation cost and time frame, and cost-benefit
analysis
Cause and effect diagram (fishbone diagram) (ishikawa diagram) - A diagram that shows many
causes or contributing factors of an end result, or effect
Cost-Benefit Analysis (CBA) - A process used to determine how to manage a risk. If the benefits
of a control outweigh the costs, the control can be implemented to reduce the risk. If the costs are
greater than the benefits, the risk can be accepted.
Risk statement - This can be used to communicate a risk and the resulting impact. It is often
written in the form of "if/then" statements.
Plan of action and milestones (POAM) - A document used to track progress, and it is used to
assign responsibility and to allow management follow-up. It is a living document, it should be
constantly updated. It should include: the tasks that need to be accomplished, the resources
required to accomplish the elements of the plan, any milestones in meeting the tasks, and
scheduled completion dates for the milestones.
Milestone - A scheduled event.
