Risk Management & Mitigation Flashcards
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Read the first 7 Risk Management & Mitigation flashcards as text
A development team is using threat modeling during the design phase. Which framework is commonly used to categorize software threats?
Answer: STRIDE
STRIDE (Spoofing, Tampering, Repudiation, Information Disclosure, Denial of Service, Elevation of Privilege) is Microsoft's threat modeling framework for categorizing software threats.
Which of the following is an example of a secondary risk?
Answer: A risk that arises as a direct result of implementing a risk response
Secondary risks are new risks that are created as a direct consequence of implementing a risk response or mitigation strategy.
A CAD candidate must prioritize risks before mitigation. Which tool ranks risks by multiplying their probability and impact scores?
Answer: Probability-Impact Matrix
The Probability-Impact Matrix ranks risks by combining their likelihood and consequence scores, creating a visual prioritization grid.
During a risk review meeting, a previously identified risk is found to be no longer relevant to the project. What is the correct action?
Answer: Close the risk and update the risk register accordingly
When a risk is no longer applicable, it should be formally closed and the risk register updated to reflect its resolved status.
A software release is blocked by an unresolved risk that has materialized. This materialized risk is now classified as what?
Answer: An issue
When a risk actually occurs and becomes a real problem affecting the project, it transitions from a risk to an issue requiring immediate resolution.
Which risk mitigation strategy involves creating multiple independent system components so a single failure does not bring down the entire application?
Answer: Redundancy and fault isolation
Redundancy and fault isolation ensure that failures in one component are contained and do not cascade into system-wide failures.
A project manager sets aside 10% of the budget for unforeseen risk events not in the risk register. This reserve is called?
Answer: Management reserve
Management reserve is an unplanned budget set aside for unknown-unknown risks outside the identified risk register, controlled by senior management.