CLM 017 Risk Management Exam 2024 Questions and Answers

What would be the appropriate corrective action for the following issue: A major water leak has permanently damaged 45% of the servers used to control the cloud-based network infrastructure. This has been designated a high issue. - · Control The following describes which type of category of risk: Two legacy software systems must be combined into one system in order to operate a new piece of hardware. Programmers must find a way to ensure that old data records in each system are still editable. If not, the hardware will not operate correctly. - · Technical You are managing a base realignment program to consolidate four bases, while expanding/modernizing the? surviving? base. As part of that program, there is a requirement to reduce water run-off by 25% from both bases. You have heard from a colleague about a new water-permeable concrete that allows water infiltration at a rapid rate and lasts for up to 10 years. Is this a risk or an opportunity? - Opportunity A shortage of steel has caused a delay in one of the tasks until I the material is available. The original plan estimated the material to be available in 6 weeks, but the shortage continues. What would be an appropriate step to tracking and managing this issue? - · Adjust the corrective action plan and issue level as warranted. Who may write the Program Risk Process (PRP) Document? - · The program manager (PM) or a dedicated risk manager Which of the following is the difference between a risk and an issue? - A risk is the potential of occurring; an issue has occurred or is certain to occur. How many framing assumptions (FAs) should the typical program have? - · About 3-5 During Technology Maturation and Risk Reduction (TMRR), the goal is to primarily reduce which types of risk? (Select all that apply.) - · Integration · Technology · Engineering You have contracted a university research team to create a new optic lens as a part of your programs satellite system. Your group has never worked with this team before, and has included a new potential risk stemming from their development and testing procedures. What type of analysis could you use to identify and reduce specific risks from their processes? - · Process Risk Analysis