CSPM Quality, Risk & Procurement Management Flashcards
7 cards from real CPSM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 CSPM Quality, Risk & Procurement Management flashcards as text
A software project's risk probability-impact matrix categorizes a risk as 'High Probability / Low Impact.' What is the most appropriate response?
Answer: Mitigate by reducing probability or accept with a contingency plan
High-probability, low-impact risks are typically mitigated to reduce their frequency or accepted with a documented contingency plan since their impact is manageable.
What is the purpose of a make-or-buy analysis in procurement management?
Answer: To compare the cost of building software in-house versus outsourcing it
A make-or-buy analysis evaluates whether it is more cost-effective and strategically sound to develop a capability internally or procure it from an external vendor.
Which quality management tool is best suited for identifying the few causes responsible for most defects?
Answer: Pareto chart
A Pareto chart applies the 80/20 principle by displaying defect categories in descending frequency, highlighting the vital few causes driving most quality problems.
A project team is performing risk monitoring. Which activity is most important to ensure the risk register stays accurate?
Answer: Periodically reviewing and updating risks as the project progresses
Continuous review and updating of the risk register throughout the project lifecycle ensures emerging risks are captured and resolved risks are closed.
In contract management, what does 'contract closure' involve?
Answer: Verifying all deliverables are complete and formally accepting or settling the contract
Contract closure involves confirming all contractual obligations have been met, resolving any open claims, and formally documenting the contract as complete.
A risk response plan includes a 'fallback plan.' When is a fallback plan activated?
Answer: When the primary risk response proves insufficient
A fallback plan is a secondary response strategy that is triggered when the primary mitigation or contingency measure fails to adequately address the risk.
Which procurement document is used to invite vendors to propose solutions when requirements are not fully defined?
Answer: Request for Proposal (RFP)
An RFP solicits vendor proposals including their approach, methodology, and pricing when the buyer needs innovative solutions rather than simple price quotes.