Risk Management & Mitigation Flashcards
7 cards from real CAE 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 'risk burndown chart' in an automotive program is used to track:
Answer: The reduction of open risks over time as mitigations are implemented and closed
A risk burndown chart plots the number or severity-weighted count of open risks versus time, visually demonstrating whether the program is successfully closing risks on schedule.
When applying the hierarchy of controls to automotive manufacturing risk, which control level is considered most effective?
Answer: Engineering controls that physically eliminate the hazard
Engineering controls—such as guarding, interlocks, or process redesign that eliminates the hazard at the source—are more reliable than behavioral or administrative controls in the hierarchy.
A vehicle OEM uses a 'Design Verification Plan and Report (DVP&R)' in the risk management context primarily to:
Answer: Define and track tests that verify design requirements are met, reducing technical risk before launch
DVP&R maps each design requirement to a specific test, defines acceptance criteria, and tracks test completion status, ensuring technical risks are systematically retired before production launch.
In a supply chain risk assessment, 'geographic concentration risk' refers to:
Answer: Vulnerability arising from critical materials or parts being sourced from a single country or region prone to disruption
Geographic concentration risk occurs when critical components or raw materials are dominated by a single region, making the supply chain vulnerable to geopolitical events, natural disasters, or export restrictions in that region.
The primary purpose of a 'Pre-Launch Control Plan' in automotive quality risk management is to:
Answer: Define enhanced inspection and process controls during initial production to catch early-run quality risks
A Pre-Launch Control Plan applies tighter inspection frequencies and additional controls during early production runs to detect and contain quality issues before full-volume production exposes customers to them.
Which of the following is an example of 'risk acceptance' as a deliberate strategy in automotive engineering?
Answer: Formally documenting that a low-probability, low-impact risk will not receive additional resources and monitoring it on the risk register
Risk acceptance is a conscious, documented decision to tolerate a risk—typically when the cost of mitigation exceeds the expected impact or when the risk falls below the organization's risk appetite threshold.
A 'Monte Carlo simulation' is applied to automotive program schedule and cost risk assessment in order to:
Answer: Generate a probability distribution of possible outcomes by randomly sampling input variable ranges thousands of times
Monte Carlo simulation runs thousands of iterations with randomly sampled values from input distributions to produce a statistical range of outcomes, revealing schedule or cost confidence levels rather than a single deterministic estimate.