BSE Risk Management and Systems Engineering

Question 1

In risk management, what is the Risk Priority Number (RPN) calculated as?

Accepted Answer

Severity × Occurrence × Detection

Answer

Probability × Impact × Cost

Answer

Likelihood × Exposure × Vulnerability

Answer

Severity × Cost × Frequency

Question 2

Which risk response strategy involves shifting the financial impact of a risk to a third party?

Accepted Answer

Risk transference

Answer

Risk avoidance

Answer

Risk mitigation

Answer

Risk acceptance

Question 3

What is the primary goal of systems engineering in complex engineering projects?

Accepted Answer

Ensuring all system components work together to meet overall system requirements

Answer

Optimizing individual component performance independently

Answer

Reducing the number of components in a system

Answer

Maximizing software development speed

Question 4

What does a probability-impact matrix help project managers do?

Accepted Answer

Prioritize risks by plotting their likelihood against their potential impact

Answer

Calculate the exact monetary loss from risks

Answer

Schedule risk review meetings

Answer

Assign risk ownership to team members

Question 5

In systems engineering, what is a 'requirements baseline'?

Accepted Answer

The formally approved set of requirements against which system development is measured

Answer

The minimum acceptable performance threshold for a system

Answer

The initial budget estimate for system development

Answer

The list of hardware components required for the system

Question 6

Which risk quantification technique uses repeated random sampling to model uncertainty in project outcomes?

Accepted Answer

Monte Carlo Simulation

Answer

Decision Tree Analysis

Answer

Expected Monetary Value Analysis

Answer

Sensitivity Analysis