CAPM Risk & Quality Management 2

Question 1

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

Accepted Answer

Transfer

Answer

Transfer moves the financial impact of a risk to a third party such as an insurance company or subcontractor.

Question 2

A project manager discovers that a supplier is consistently delivering components that fail quality inspections. Which quality tool is BEST for identifying the root cause?

Accepted Answer

Cause-and-effect diagram

Answer

A cause-and-effect (Ishikawa/fishbone) diagram helps teams systematically identify potential root causes of a defect.

Question 3

The probability of Risk A is 0.4 and its impact is $25,000. The probability of Risk B is 0.6 and its impact is $10,000. Which risk has the higher expected monetary value?

Accepted Answer

Risk A at $10,000

Answer

EMV = Probability × Impact; Risk A = 0.4 × $25,000 = $10,000, Risk B = 0.6 × $10,000 = $6,000, so Risk A is higher.

Question 4

Which document formally authorizes the risk management activities and establishes the risk management approach for a project?

Accepted Answer

Risk management plan

Answer

The risk management plan defines the methodology, roles, budget, and timing for risk management activities throughout the project.

Question 5

A project team reviews completed deliverables to confirm they meet defined requirements. This activity is an example of:

Accepted Answer

Quality control

Answer

Quality control involves inspecting and measuring deliverables to verify they meet quality requirements.

CAPM Practice Test

CAPM Practice Test

CAPM Risk & Quality Management 2