|What is the purpose of the risk management process? To assess if plans are aligned and feasible. To produce and coordinate effective and workable project plan(s). To provide a structured, analytical framework for objectively identifying, characterizing and evaluating alternatives. To identify, analyze, treat and monitor risks continually.
What is required in order to perform the risk management process? Risk report(s). Risk records. Candidate risks or opportunities. System requirements.
What are three overarching activities performed as a part of conducting risk management? (Choose three.) Plan for risk management. Manage the risk profile. Make changes to the baseline. Analyze risks.
What are two overarching activities performed as a part of conducting risk management? (Choose two.) Treat risks. Obtain project funding. Estimate the time each task will take. Monitor risks.
What are three products or results of performing the risk management process? (Choose three.) Changes for configuration management. A risk management strategy. Risk report(s). Risk records.
What are risks? A future event or situation that might occur which causes either a desirable or an undesirable outcome. A future event or situation that might occur which causes an UNDESIRABLE outcome. A future event or situation that might occur which causes a DESIRABLE outcome. An event or situation that IS OCCURRING which is causing an undesirable outcome.
What are three characteristics that a systems engineer should focus on when identifying a potential risk is as a future event? (Choose three.) That the future event is realistic or possible. That the future event is caused by a person or organization. That the future event has something to do with the System of Interest (SOI). That the future event may or may not be controlled by the organization.
What characteristic differentiates a risk from an issues? Risks are future events that may or may not occur, while issues are current and ongoing. Risks are future events that will definitely occur, while issues are current and ongoing. Risks are current an ongoing, while issues are future events that may or may not occur. Risks are current and ongoing, while issues are future events that will definitely occur.
What are the three areas of a project that a risk may ultimately impact? (Choose three.) Project cost. The project shcedule. The performance of the System of Interest (SOI). Organizational staffing.
Where might the systems engineer learn the guiding philosophy and rules of conduct for risk management within their organization?
The SEMP. The SyRS. The Risk Management Plan (RMP). The TEMP.
Select the appropriate sources for IDENTIFYING risks. Subject Matter Expert (SME) experiences. The Work Breakdown Structure (WBS). Requirements. The risk repository. The life cycle approach. Contract documents such as the SOW and deliverables list. Internal or external recources. The SEMP.
What are three activities that are a part of ANALYZING risks? (Choose three.) Identify the root cause of the risk. Use standards of assessment. Monitor the implementation and success of the mitigation plan. Assign the type of impact (Cost, Schedule or Performance).
What are three activities that are a part of ANALYZING risks? (Choose three.) Assess the probability or likelihood the risk may occur. Document the risk in a risk respository. Assess the consequence or impact of the risk if it does occur. Analyze the likelihood and consequence to arrive at an overall risk level.
What are the four approaches for treating risks? (Choose four.) Control (Treat) the risk. Avoid the root cause of the risk. Accept the risk (take no action). Apply more resources to treat risks. Transfer the risk.
What is a common format to write risk statements? Use standard requirement language (subject, priority, verb, object). Using a matrix and color code. Use the "IF (root cause), THEN (consequence)" format. Use "The system shall..." format.