ACQ1010: Lesson 1.5 - Risk and Acquisition Management Questions
And Answers | Latest Update
1. What is risk? A measure of future uncertainties in achieving program performance
goals and objectives within defined cost, schedule, and performance
constraints.
2. What does
risk address? Variations in the planned approach and the expected outcome.
3. Why address pro- To ensure cost, schedule, and performance objectives are achieved at
every stage
gram risk? in the program life cycle; and to communicate to all stakeholders the process for
uncovering, determining the scope of, and managing program
uncertainties.
4. What two other
things fall into
the Risk Issue and opportunity management.
Manage- ment
arena?
5. What is
consid- ered
an "issue"? Current problems or "realized" risks, either known or unknown at the time of
assessment.
6. What is consid-
ered an
The opposite of a risk. Addresses the question: What could go right?
"opportu- nity"?
7. What is
responsi-
Everyone. The systems engineer, test manager, financial manager, contracting
ofl-
ble for risk identi- cer, logistician, and every other team member is responsible for risk
identification.
fication in system
acquitistion?
8. What are the Risk Manage- ment Process?
five iterative
steps of the
1/
6
, ACQ1010: Lesson 1.5 - Risk and Acquisition Management Questions
And Answers | Latest Update
1. Process Planning.
2. Risk Identification.
3. Risk Analysis.
4. Risk Mitigation.
5. Risk Monitoring.
2/
6
And Answers | Latest Update
1. What is risk? A measure of future uncertainties in achieving program performance
goals and objectives within defined cost, schedule, and performance
constraints.
2. What does
risk address? Variations in the planned approach and the expected outcome.
3. Why address pro- To ensure cost, schedule, and performance objectives are achieved at
every stage
gram risk? in the program life cycle; and to communicate to all stakeholders the process for
uncovering, determining the scope of, and managing program
uncertainties.
4. What two other
things fall into
the Risk Issue and opportunity management.
Manage- ment
arena?
5. What is
consid- ered
an "issue"? Current problems or "realized" risks, either known or unknown at the time of
assessment.
6. What is consid-
ered an
The opposite of a risk. Addresses the question: What could go right?
"opportu- nity"?
7. What is
responsi-
Everyone. The systems engineer, test manager, financial manager, contracting
ofl-
ble for risk identi- cer, logistician, and every other team member is responsible for risk
identification.
fication in system
acquitistion?
8. What are the Risk Manage- ment Process?
five iterative
steps of the
1/
6
, ACQ1010: Lesson 1.5 - Risk and Acquisition Management Questions
And Answers | Latest Update
1. Process Planning.
2. Risk Identification.
3. Risk Analysis.
4. Risk Mitigation.
5. Risk Monitoring.
2/
6
