Risk Management & Mitigation Flashcards
7 cards from real CAD practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Risk Management & Mitigation flashcards as text
Which of the following BEST describes the purpose of a Monte Carlo simulation in risk management?
Answer: To model the range of possible project outcomes by running thousands of scenario iterations
Monte Carlo simulation runs thousands of random scenarios using probability distributions to model the range of possible cost and schedule outcomes.
A developer integrating a payment API must address the risk of API downtime. Which mitigation approach provides the highest resilience?
Answer: Implementing a circuit breaker pattern with a fallback payment processor
A circuit breaker pattern stops repeated calls to a failing service and routes traffic to a fallback, preventing cascading failures.
In risk management, what does a 'risk appetite' define?
Answer: The amount and type of risk an organization is willing to accept in pursuit of its objectives
Risk appetite is the level and type of risk an organization is prepared to accept while still pursuing its strategic goals.
A CAD project uses automated regression testing after every deployment. Which risk does this practice primarily mitigate?
Answer: Introduction of new defects breaking existing functionality
Automated regression testing detects when new code changes break previously working functionality, mitigating the risk of regression defects.
Which term describes a risk that cannot be further reduced and must be accepted after all feasible mitigation measures are applied?
Answer: Residual risk
Residual risk is the remaining risk after all applicable controls and mitigations have been implemented and cannot be eliminated entirely.
A software team's risk response plan includes immediate rollback procedures if a deployment introduces critical defects. This is an example of which type of plan?
Answer: Contingency plan
A contingency plan is a predefined set of actions to be taken if a specific risk event occurs, such as rolling back a bad deployment.
When performing a risk assessment for a new mobile application, which category of risk relates to non-compliance with data privacy laws such as GDPR or CCPA?
Answer: Compliance risk
Compliance risk refers to the potential for legal penalties, fines, or reputational damage resulting from failure to adhere to applicable laws and regulations.