Risk Assessment & Quality Control Flashcards
7 cards from real CPP 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 Assessment & Quality Control flashcards as text
During project execution, a risk event occurs that was not previously identified. How should the project manager handle this unidentified risk?
Answer: Treat it as a workaround, document it, and add it to the risk register
Unplanned risk events (workarounds) require an immediate response, followed by documentation in the risk register and analysis to determine if additional responses are needed.
A CPP practitioner is evaluating supplier quality. The project uses acceptance sampling to inspect incoming materials. What is the primary advantage of acceptance sampling over 100% inspection?
Answer: It reduces inspection time and cost while providing statistical assurance of quality
Acceptance sampling provides a statistically valid quality assessment by inspecting a representative sample, significantly reducing inspection time and cost compared to inspecting every item.
Which of the following is an example of a risk trigger (also called a risk symptom or warning sign)?
Answer: An early indicator such as a vendor missing a milestone that signals a risk may occur
Risk triggers are warning signs or precursor events that indicate a risk is about to occur, enabling the project team to activate contingency plans proactively.
A project's quality management plan includes a distinction between quality assurance (QA) and quality control (QC). Which statement best describes this distinction?
Answer: QA focuses on auditing processes to prevent defects; QC inspects outputs to detect defects
Quality assurance is a proactive process-oriented activity aimed at preventing defects, while quality control is a reactive product-oriented activity focused on detecting and correcting defects in outputs.
When establishing a risk management plan, what does the risk appetite of an organization refer to?
Answer: The level of uncertainty an organization is willing to accept in pursuit of its objectives
Risk appetite describes an organization's overall tolerance for uncertainty and risk-taking in pursuit of value, guiding how aggressively or conservatively risks are managed.
A project team discovers during a quality control inspection that a deliverable has a defect but the defect is within the agreed tolerance range. What is the correct course of action?
Answer: Accept the deliverable since it falls within defined tolerance, and document the finding
If a defect falls within the pre-agreed tolerance range, the deliverable is considered acceptable; the finding should still be documented to inform future quality improvements.
A CPP practitioner uses Expected Monetary Value (EMV) to evaluate two risk responses. Response A has a 40% probability of a $50,000 loss. Response B has a 20% probability of a $90,000 loss. Which response has a lower EMV (less negative)?
Answer: Response B, with an EMV of -$18,000
Response A EMV = 0.40 × -$50,000 = -$20,000; Response B EMV = 0.20 × -$90,000 = -$18,000; Response B has the less negative (lower absolute) EMV.