CMC CMC Risk Management & Problem Solving 2

Question 1

In structured problem solving, the MECE principle means that categories should be:

Accepted Answer

Mutually Exclusive and Collectively Exhaustive

Answer

MECE ensures analytical frameworks have no overlaps (mutually exclusive) and no gaps (collectively exhaustive).

Question 2

Which risk response is most appropriate when a risk's probability and impact are both very low?

Accepted Answer

Risk acceptance

Answer

Accepting a low-probability, low-impact risk is rational when the cost of mitigation exceeds the potential loss.

Question 3

A consultant identifies that a client's key supplier may go out of business, threatening project delivery. This is an example of:

Accepted Answer

External supply chain risk

Answer

Supplier insolvency is an external supply chain risk that threatens the client's ability to operate or deliver.

Question 4

The hypothesis-driven problem-solving approach used by CMC consultants involves:

Accepted Answer

Forming an early hypothesis and testing it with targeted data collection

Answer

Hypothesis-driven problem solving accelerates analysis by focusing data collection on proving or disproving a specific hypothesis.

Question 5

A CMC consultant should escalate a project risk to the client's senior leadership when:

Accepted Answer

The risk exceeds a pre-agreed threshold and cannot be resolved at the project level

Answer

Risks above agreed thresholds require senior leadership involvement to authorize resources or decisions beyond the project team's authority.

(CMC) Chartered Management Consultant Practice Test