CMC CMC Risk Management & Problem Solving

Question 1

In CMC consulting, a risk register is BEST described as:

Accepted Answer

A structured log that documents identified risks, their likelihood, impact, and mitigation strategies

Answer

A financial ledger for project costs

Answer

A list of client complaints

Answer

A schedule of project deliverables

Question 2

A CMC consultant uses a probability-impact matrix to:

Accepted Answer

Rank risks by their likelihood of occurring and their potential impact on the project

Answer

Determine consultant compensation

Answer

Map client organizational structure

Answer

Assess competitor market share

Question 3

Which problem-solving framework do CMC consultants most commonly use to identify the root cause of an organizational issue?

Accepted Answer

The 5 Whys

Answer

SWOT Analysis

Answer

Porter's Five Forces

Answer

BCG Matrix

Question 4

Operational risk in a consulting context MOST often refers to:

Accepted Answer

Risks arising from failed internal processes, systems, or human error

Answer

Financial market volatility

Answer

Strategic misalignment with industry trends

Answer

Regulatory compliance breaches only

Question 5

When should a CMC consultant perform a risk assessment on a new engagement?

Accepted Answer

During project initiation and continuously throughout the engagement

Answer

Only if the client requests it

Answer

At project closure

Answer

After the first major deliverable

Question 6

A fishbone (Ishikawa) diagram is used in consulting to:

Accepted Answer

Map the causes contributing to a specific problem or effect

Answer

Visualize project timelines

Answer

Track financial performance

Answer

Illustrate client organizational hierarchies