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ECON200 Exam Mods 3 & 4Contains 7Questions (Attempt=1/3) Exam – Mods 3 and 41) In order to meet the complex challenges of an upcoming requirement, the acquisitionmanager has established a dedicated team that is responsible for all aspects of riskmanagement. The team will write the risk management plan, conduct assessments, andevaluate risk-handling strategies. What approach is the team taking?10125914 1 A risk averse approachA decentralized risk management approachA risk-reward approachA centralized risk management approach2) In addition to the performance objectives, what other principle must you keep in mindwhen using performance-based acquisition (PBA) for service requirements?10125926 1 CompetitionBusiness relationship with contractorAchieving savingsUse of commercial items3) You are working with your customer to mitigate the potential risk on a new requirementfor a research and development contract to design and build a prototype for a new masstransportation system. Which action would you perform during risk mitigation?10137592 1 Determine how to handle identified risksMonitor risks for any changes to likelihood or consequenceConduct SWOT analysisDetermine the probability that risks will occur4) One of your customers is the base hospital. They have been tasked with reducingpatient wait time while improving the quality of the medical care they provide to their patients within six months. Your customer is considering contractor support to help themachieve these standards. You have been asked to address the risk associated withobtaining this type of support service. What is the schedule risk for this requirement?10125910 1 The use of cutting edge technology may not provide faster diagnosis and treatment.The time necessary to implement the desired changes will take longer than sixmonths.The budget will not include funding to purchase the latest technology.The number of personnel needed to provide this level of support may exceed theavailable funding.5) Contractor proposals have been received in response to a solicitation issued for aircraftmaintenance repair services. The technical team must now evaluate these proposalsagainst the evaluation criteria in Section M of the solicitation. Identify the phase of theServices Acquisition Process where this activity would occur.10125929 1 DevelopmentResearchExecutionPlanning6) By focusing on the downside of risk, programs may overlook opportunities that providepossibilities for innovation. As opportunities emerge, the program can shift focus towardunderstanding how to take advantage of opportunities while continuing to manage risks.Opportunity management measures program improvement in terms of what two things?10125920 1 Likelihood and benefitsSchedule and performanceCosts and performanceLikelihood and consequences7) This contract is performed by personnel that are not subject to the supervision andcontrol of the government.10125923 1 Advisory and assistance services contractService contractPersonal service contractNon-personal services contract

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