mor_foundation Sample Questions & Answers
Spans two tied leaders: M_o_R's eight principles with their supporting mechanisms, and the main risk process steps with communication throughout, plus approach documentation, embedding and reviewing the practice, four M_o_R perspectives, and specialist risk techniques.
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- Question 1Beginner
M_o_R Approach · Risk Management Policy vs. Strategy
According to the M_o_R guidance, which document is specifically designed to distinguish between an organization's high-level commitment to risk management and the detailed plan for its implementation?
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Correct answer: A
The Risk Management Policy outlines the organization's overall intent and commitment (the 'what' and 'why'). The Risk Management Strategy details the specific methods, resources, and timeline for implementing that policy (the 'how'). This separation is a key part of the M_o_R approach.
- Question 2Intermediate
M_o_R Process · Plan - Response Strategies
During a risk identification workshop, a team member identifies a significant opportunity: 'By adopting a new cloud technology, we could reduce our annual operational costs by 20%.' When logging this in the Risk Register, which response type should be initially considered to capitalize on this positive risk?
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Correct answer: D
The 'Exploit' response is used for opportunities that the organization wants to pursue aggressively to ensure the benefits are realized. Given the significance of a 20% cost reduction, the organization would want to take decisive action to make it happen, which is the essence of the Exploit strategy.
- Question 3Intermediate
M_o_R Approach · Issue Log
A project manager discovers that a key supplier has just declared bankruptcy. This event is certain to happen and will immediately impact the project timeline. How should this event be recorded according to M_o_R best practices?
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Correct answer: B
A key distinction in M_o_R is between a risk (an uncertain event that may occur) and an issue (a problem, concern, or event that has occurred or is certain to occur). Since the supplier's bankruptcy has happened, it is no longer a risk; it is an issue that must be managed and should be recorded in the Issue Log.
- Question 4Advanced
M_o_R Approach · Approach Documentation
A new Programme Management Office (PMO) is being established in a large organization. The head of the PMO needs to create the foundational documents for implementing a consistent risk management approach across all programmes and projects. The goal is to define the organization's attitude to risk, the procedures to be followed, and the specific templates to be used.
Based on M_o_R, which set of documents is essential for the PMO to develop first to establish this framework?
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Correct answer: B
This combination correctly identifies the hierarchical set of M_o_R approach documents. The Policy defines the high-level intent. The Strategy outlines how the policy will be achieved. The Process Guide provides the detailed, step-by-step procedures and templates for practitioners to follow. Together, they form the complete foundation for the risk management framework.
- Question 5Beginner
M_o_R Process · Identify - Context
What is the primary purpose of the 'Identify - Context' step within the M_o_R process?
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Correct answer: C
The 'Identify - Context' step is foundational. Its purpose is to understand the environment in which the organization or activity operates and to clarify the objectives. This provides a baseline against which risks (threats to objectives and opportunities to exceed them) can be meaningfully identified.
- Question 6Intermediate
M_o_R Process · Assess - Estimate
A risk analyst is assessing a newly identified risk. The organization has well-defined scales for probability and impact but lacks historical data for this specific type of risk. The primary goal is to quickly categorize the risk for prioritization alongside dozens of others. Which assessment approach is most suitable in this situation?
quadrantChart title Risk Prioritization Matrix x-axis Low Probability --> High Probability y-axis Low Impact --> High Impact quadrant-1 "Monitor (Low Priority)" quadrant-2 "Action Required" quadrant-3 "Monitor (Low Priority)" quadrant-4 "Urgent Action Required" "Risk A": [0.8, 0.9] "Risk B": [0.2, 0.3] "Risk C": [0.4, 0.7]Show answer & explanation
Correct answer: B
Qualitative assessment is ideal when data is limited, and the goal is rapid prioritization. Using a probability impact grid (as visualized in the diagram) allows the analyst to use expert judgment and defined scales (e.g., High, Medium, Low) to quickly categorize and prioritize the risk relative to others.
- Question 7Intermediate
M_o_R Process · Plan - Response Strategies
A software development company identifies an opportunity to partner with a smaller, innovative startup. The partnership could significantly enhance their product offering but also carries risks. To maximize the upside while mitigating the downside, they propose a joint venture where both companies contribute resources and share the profits and liabilities. This approach is an example of which risk response strategy for an opportunity?
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Correct answer: C
The 'Share' response for an opportunity involves allocating ownership to a third party who is best able to capture the opportunity for the benefit of the business. Creating a joint venture is a classic example of sharing, where both parties contribute to and benefit from the opportunity, while also sharing the associated risks.
- Question 8AdvancedSelect 2
M_o_R Process · Implement
The 'Implement' step of the M_o_R process has been initiated for several planned risk responses. Which of the following activities are essential components of this step? (Select TWO)
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Correct answers: B, C
A key part of implementation is not just performing the action, but also checking to see if it is working as intended.
Implementing a response can create new (secondary) risks. Identifying and managing these is a critical part of the 'Implement' step.
- Question 9Advanced
M_o_R Process · Plan - Response Strategies
A construction project manager is reviewing the risk register. One identified threat is 'prolonged severe weather delaying foundation work.' The planned response is to purchase specialized, fast-curing concrete at a higher cost. This action reduces the potential delay but does not eliminate it entirely. Unfortunately, the use of this special concrete introduces a new risk of 'potential long-term structural cracking.' What is the term for this newly introduced risk?
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Correct answer: C
A secondary risk is a new risk that arises as a direct result of implementing a risk response. In this case, the response (using special concrete) created the new risk of structural cracking. Identifying potential secondary risks is a crucial part of response planning.
- Question 10Beginner
M_o_R Principles · Fits the Context
True or False: According to the M_o_R framework, all eight principles must be applied with equal rigor and emphasis regardless of the organization's size, maturity, or industry.
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Correct answer: B
This statement is false. The principle 'Fits the context' is fundamental to M_o_R. It dictates that the application of risk management, including the emphasis on different principles, must be tailored to the specific circumstances of the organization. A small startup will apply the principles differently than a large, highly regulated bank.
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