1. (TCO D) In which risk response strategy is the impact or probability of the r
ID: 332874 • Letter: 1
Question
1. (TCO D) In which risk response strategy is the impact or probability of the risk reduced for a negative risk and increased for a positive risk?
Transference and sharing
Exploitation and avoidance
Acceptance and avoidance
Mitigation and enhancement
2. (TCO G) You have completed all design drawings and have a complete scope for your project. You need to hire a contractor to build the product to your designs. Which type of contract would be best in this situation?
FPEPA
T&M
CPIF
FP
3. Qualitative risk analysis is the process of prioritizing risks for further analysis or action. What are the factors used to complete this process?
Threats and Opportunities
Expert Judgment and Urgency Assessment
Impact and Probability
Modeling and Simulation
Transference and sharing
Exploitation and avoidance
Explanation / Answer
1 Mitigation and enhancement(as mitigation tries to reduce the occurrence or the impact of the negative risk and enhancing is trying to increase the probability of occurrence of the positive risk).
2 FP(fixed price contract is best in this situation to lock a contract on the basis of a scope without being responsible for price changes unless the scope changes).
3 Expert judgment and Urgency assessment(While prioritizing risks analyzing all the impacts one must consider the urgency and use expertise in judgment).
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.