Practice Test Geeks(CAM) Control Account Manager Certification Practice Test
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Risk Analysis Flashcards

7 cards from real CAM 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 Analysis flashcards as text

  1. A realized risk requires additional in-scope work in a CAM's control account. The program manager approves funding from management reserve. What happens to the PMB?

    Answer: The PMB increases as budget is transferred from MR into the control account via change control

    Applying MR moves budget into the PMB through a documented baseline change.

  2. Which qualitative factor, beyond probability and impact, is often assessed to prioritize risks needing near-term attention?

    Answer: Time horizon or urgency of when the risk could occur

    Urgency identifies risks whose response windows are closing, elevating their priority regardless of score.

  3. A CAM notices the same supplier risk recurring across several work packages. What is the BEST way to analyze this pattern?

    Answer: Perform root cause analysis to address the underlying driver common to all occurrences

    Root cause analysis targets the common driver so one response can address multiple related risks.

  4. Why is it improper to use management reserve to offset an existing unfavorable cost variance?

    Answer: MR is for future in-scope risk, and using it to erase variances distorts performance history

    Masking past overruns with MR eliminates variance visibility and violates EVMS guidelines.

  5. In risk-adjusted scheduling, what is 'schedule margin'?

    Answer: A designated buffer of time placed before key events to protect against schedule risk

    Schedule margin is deliberately planned buffer time protecting critical milestones from risk-driven slips.

  6. A CAM assesses that a design change eliminates the possibility of a component overheating risk entirely. Which response strategy was used?

    Answer: Avoidance

    Avoidance changes the plan so the risk can no longer occur at all.

  7. Which metric combination gives a CAM the BEST early insight into whether risk responses are working?

    Answer: Trends in risk exposure scores together with cost and schedule variance trends

    Declining exposure scores paired with stable variances indicate responses are effectively controlling risk.