CMP CMP Risk Management & Mitigation 1

Question 1

Which risk assessment framework categorizes capture risks by probability and impact on a two-axis grid?

Accepted Answer

Risk matrix (heat map)

Answer

A risk matrix plots probability against impact to help teams prioritize which capture risks require the most urgent mitigation.

Question 2

What is the primary purpose of a risk register in a capture plan?

Accepted Answer

Document identified risks and mitigation strategies

Answer

A risk register records each identified risk along with its owner, likelihood, impact, and mitigation plan in one central document.

Question 3

Which risk response strategy involves shifting the financial or operational burden of a risk to a third party through subcontracting or insurance?

Accepted Answer

Risk transfer

Answer

Risk transfer moves the exposure to a party better positioned to manage it, such as subcontracting a high-risk technical component to a specialist.

Question 4

In capture planning, a 'Black Swan' event is best described as:

Accepted Answer

A highly improbable, high-impact event that is difficult to predict

Answer

Black Swan events are rare, unpredictable occurrences with significant consequences that fall outside normal risk expectations.

Question 5

What does 'risk appetite' define in the context of capture management?

Accepted Answer

The level of risk an organization is willing to accept in pursuing a contract

Answer

Risk appetite guides bid/no-bid decisions by defining how much uncertainty the organization is prepared to tolerate when pursuing an opportunity.

(CMP) Capture Management Professional Certification Practice Test