TPM Risk Management & Mitigation 2

Question 1

A TPM identifies that a key engineering dependency has a 70% probability of causing a 3-week delay. The team decides to build a parallel workstream to reduce this risk. This is an example of which risk response strategy?

Accepted Answer

Risk mitigation

Answer

Risk mitigation involves taking actions to reduce the probability or impact of a risk, such as creating a parallel workstream to minimize schedule impact.

Question 2

When should a TPM use the 'risk avoidance' response strategy?

Accepted Answer

When the risk is so severe that the program cannot proceed if it occurs

Answer

Risk avoidance eliminates the threat by removing its cause, appropriate when a risk is so severe that other strategies cannot adequately protect the program.

Question 3

A TPM signs a contract with a cloud provider that includes SLA guarantees and financial penalties for downtime. This risk response is best described as:

Accepted Answer

Risk transfer

Answer

Risk transfer shifts the financial or operational impact of a risk to a third party through contracts, insurance, or SLAs with performance penalties.

Question 4

What is a 'contingency plan' in risk management?

Accepted Answer

A predefined response to be executed if a risk event actually occurs

Answer

A contingency plan is a pre-approved set of actions to be executed when a risk event actually occurs, enabling a faster and more coordinated response.

Question 5

A TPM decides to accept a low-probability, low-impact risk without taking any proactive action. This is called:

Accepted Answer

Passive risk acceptance

Answer

Passive risk acceptance means no action is taken proactively; the team simply deals with the risk if it occurs, appropriate for low-priority risks.

(TPM) Technical Program Manager Certification Practice Test

(TPM) Technical Program Manager Certification Practice Test

TPM Risk Management & Mitigation 2