CPSM CSPM Quality, Risk & Procurement Management 4

Question 1

A software project's risk probability-impact matrix categorizes a risk as 'High Probability / Low Impact.' What is the most appropriate response?

Accepted Answer

Mitigate by reducing probability or accept with a contingency plan

Answer

High-probability, low-impact risks are typically mitigated to reduce their frequency or accepted with a documented contingency plan since their impact is manageable.

Question 2

What is the purpose of a make-or-buy analysis in procurement management?

Accepted Answer

To compare the cost of building software in-house versus outsourcing it

Answer

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.

Question 3

Which quality management tool is best suited for identifying the few causes responsible for most defects?

Accepted Answer

Pareto chart

Answer

A Pareto chart applies the 80/20 principle by displaying defect categories in descending frequency, highlighting the vital few causes driving most quality problems.

Question 4

A project team is performing risk monitoring. Which activity is most important to ensure the risk register stays accurate?

Accepted Answer

Periodically reviewing and updating risks as the project progresses

Answer

Continuous review and updating of the risk register throughout the project lifecycle ensures emerging risks are captured and resolved risks are closed.

Question 5

In contract management, what does 'contract closure' involve?

Accepted Answer

Verifying all deliverables are complete and formally accepting or settling the contract

Answer

Contract closure involves confirming all contractual obligations have been met, resolving any open claims, and formally documenting the contract as complete.

(CPSM) Certified Software Project Manager Practice Test

(CPSM) Certified Software Project Manager Practice Test

CPSM CSPM Quality, Risk & Procurement Management 4