Risk Management & Quality Assurance Flashcards
7 cards from real CPE 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 & Quality Assurance flashcards as text
Which type of risk analysis assigns numerical values to risk probability and impact to calculate a risk score using actual data and statistical methods?
Answer: Quantitative risk analysis
Quantitative risk analysis uses numerical data and statistical techniques (e.g., Monte Carlo simulation, decision trees) to model the overall effect of risk on project objectives.
A tornado diagram in schedule risk analysis is used to show:
Answer: Which individual risks have the greatest impact on overall project outcomes
A tornado diagram ranks risks by their sensitivity or swing on project outcomes, with the most impactful risks displayed as the longest bars at the top.
What is 'gold plating' in the context of quality management, and why is it discouraged?
Answer: Delivering features beyond the agreed scope without authorization, which wastes resources and may introduce new risks
Gold plating adds unauthorized scope or features beyond what was specified, wasting resources and potentially introducing risks without client approval.
In a Schedule Risk Analysis (SRA), which activity characteristic typically contributes most to overall schedule risk?
Answer: Activities on the critical path with high uncertainty in duration estimates
Critical path activities with high duration uncertainty directly threaten the project completion date because they have no float to absorb delays.
The 'Cost of Quality' concept includes which two main categories of costs?
Answer: Conformance costs and non-conformance costs
Cost of Quality includes conformance costs (prevention and appraisal to do things right) and non-conformance costs (internal and external failure due to defects).
During which process is the Risk Management Plan created?
Answer: Plan Risk Management
The Risk Management Plan is produced during the Plan Risk Management process and defines how risk management activities will be conducted throughout the project.
A project planner discovers that several quality inspection checkpoints were omitted from the baseline schedule. This is best corrected by:
Answer: Submitting a schedule change request to incorporate the missing quality activities
Missing quality activities must be formally added via a schedule change request to maintain an accurate baseline and ensure quality requirements are met.