Risk Management & Mitigation Flashcards
7 cards from real CAP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Risk Management & Mitigation flashcards as text
A model monitoring dashboard triggers an alert when the input data distribution shifts beyond a threshold. This control supports which phase of risk management?
Answer: Ongoing risk monitoring and control after deployment
Automated drift alerts are a monitoring control that detects emerging risk during the model's operational life.
Which scenario is the best example of risk avoidance in an analytics project?
Answer: Excluding a legally restricted data source from the project entirely to eliminate compliance exposure
Avoidance eliminates the risk by removing its source, such as declining to use a problematic dataset at all.
An analytics project depends on three sequential data feeds, each with 90% on-time reliability. What risk insight should the team draw?
Answer: The combined chance all feeds arrive on time is roughly 73%, so schedule risk is compounded
Independent sequential dependencies multiply, so 0.9 × 0.9 × 0.9 ≈ 0.73, meaning compounded exposure to delay.
What is the primary purpose of documenting model assumptions and limitations in the final deliverable?
Answer: To reduce the risk of the model being applied outside its valid scope
Documented assumptions and limitations warn future users against applying the model in contexts where it is invalid.
A team member consistently reports project risks as lower than evidence suggests to avoid difficult conversations. This behavior creates which problem?
Answer: Distorted risk information that undermines informed decision-making by leadership
Underreporting biases the risk picture, so leadership cannot allocate resources or make trade-offs based on reality.
Which safeguard best mitigates the risk that a critical analytics pipeline fails silently overnight?
Answer: Automated data quality checks with alerting and defined escalation procedures
Automated validation and alerting surface failures immediately so they can be escalated and fixed before decisions are affected.
In risk terminology, what distinguishes an 'issue' from a 'risk' in an analytics project?
Answer: An issue has already occurred and requires action, while a risk is a potential future event
Risks are uncertain future events, whereas issues are realized problems that need immediate management.