TPM Risk Management & Mitigation 3

Question 1

What is the purpose of a risk burndown chart in technical program management?

Accepted Answer

To visualize the reduction in risk exposure as mitigation actions are completed

Answer

To show the number of defects resolved over time during testing phases

Answer

To track the rate of feature delivery against planned milestones

Answer

To monitor team velocity and sprint completion rates

Question 2

During a weekly program review, a TPM notices that a previously low-risk item has escalated to high severity. What is the FIRST action the TPM should take?

Accepted Answer

Update the risk register and notify the risk owner to activate the response plan

Answer

Immediately escalate to the executive sponsor for budget approval

Answer

Cancel the current sprint and hold an emergency team standup

Answer

Negotiate scope reduction with stakeholders to offset the new risk

Question 3

What is 'residual risk' in program management?

Accepted Answer

The remaining risk that persists after risk response measures have been implemented

Answer

The total risk exposure before any mitigation actions are applied

Answer

Risks identified during post-mortem analysis after program closure

Answer

Minor risks that were intentionally excluded from the risk register

Question 4

A TPM implements a 'risk threshold' for a program. What does this define?

Accepted Answer

The point at which a risk's impact or probability triggers escalation or a formal response

Answer

The maximum budget allocated for risk mitigation activities

Answer

The minimum number of risks that must be identified during planning

Answer

The timeline within which all risks must be resolved before program go-live

Question 5

Which metric is most useful for measuring the effectiveness of a TPM's risk management process over the program lifecycle?

Accepted Answer

Total risk score reduction over the program lifecycle

Answer

Number of risks identified in the risk register

Answer

Percentage of identified risks that materialized without a response plan

Answer

Ratio of risks with active owners versus total risks identified

Question 6

In a large-scale technical program, a TPM should hold risk review meetings:

Accepted Answer

Regularly throughout the program, with frequency based on phase and risk severity

Answer

Only at program kickoff and during the final phase gate review

Answer

Exclusively when a risk is escalated by a team lead or engineer

Answer

Once per quarter to align with organizational reporting cadences

Question 7

A TPM is presenting a risk status report to senior leadership. Which format best communicates the overall risk health of the program?

Accepted Answer

A RAG (Red/Amber/Green) dashboard with top risks, trends, and mitigation status

Answer

A detailed spreadsheet listing all risks with full probability and impact data

Answer

A written narrative describing each risk in chronological order of identification

Answer

A financial variance report showing budget consumed by risk mitigation activities