CIPS L5M2 Exam - Topic 4 Question 38 Discussion

Actual exam question for CIPS's L5M2 exam

Question #: 38
Topic #: 4

Chloe is a procurement manager at Ruby Company. She has been asked to join a cross-functional team to review the company's risk appetite, potential risks within the supply chain and brainstorm mitigating actions. Chloe has suggested that the cross-functional team should first draw up a list of potential supply chain risks and potential strategies to overcome the risks. Is Chloe correct?

Ayes- the first thing the team should look at are the risks and categorise these by topic

Byes- the team should focus on creating a risk register and strategies for mitigating risks as quickly as possible

Cno- the team should review the company's risk appetite before creating a risk register

Dno- Chloe should first speak with suppliers before drawing up the list of potential supply chain risks

Show Suggested Answer

Suggested Answer: A

The correct answers are as follows:

by Charlie at Jul 12, 2024, 02:14 PM

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Dewitt

6 months ago

Categorizing risks by topic makes a lot of sense!

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Julieta

6 months ago

Wait, should they really talk to suppliers first? Seems off.

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Shelia

6 months ago

Yes, a risk register is essential for this process!

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Delisa

7 months ago

I think they should assess the risk appetite first, though.

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Gregoria

7 months ago

Totally agree, identifying risks first is key!

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Celestine

7 months ago

I vaguely recall something about engaging suppliers early in the process. Maybe Chloe should consider that too?

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Penney

7 months ago

I feel like the team should definitely understand the company's risk appetite first. It seems crucial before diving into the risks.

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Blair

7 months ago

I remember a practice question where we had to prioritize risks before anything else. Maybe that's what Chloe should focus on?

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Sabina

8 months ago

I think Chloe is on the right track, but I'm not sure if they should create a risk register first or review the risk appetite.

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Aron

8 months ago

I'm a bit confused. Shouldn't Chloe talk to the suppliers first before even listing the potential risks? Seems like that supplier input could be really valuable upfront.

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Bethanie

8 months ago

I think Chloe is on the right track. Identifying the risks and categorizing them is key. Then the team can focus on the mitigation strategies. Getting that risk register established quickly is crucial.

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Oretha

8 months ago

Hmm, I'm not sure. Shouldn't they first review the company's risk appetite before getting into the details of the risks? That seems like an important foundational piece.

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Fernanda

8 months ago

This seems straightforward - the team should definitely start by identifying the potential supply chain risks and then brainstorm mitigation strategies. That's a logical first step.

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Deonna

8 months ago

Ah, I remember now! Corda's architecture is designed around the concept of channels, which allow for private and efficient transactions between parties. That's the key difference from the other blockchain platforms listed.

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Stefan

1 year ago

Wait, we're supposed to be *mitigating* risks, not *creating* them! Chloe, let's make sure we don't accidentally invent some new supply chain nightmares, okay?

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Fletcher

11 months ago

Wait, we're supposed to be *mitigating* risks, not *creating* them! Chloe, let's make sure we don't accidentally invent some new supply chain nightmares, okay?

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Jannette

12 months ago

B) yes- the team should focus on creating a risk register and strategies for mitigating risks as quickly as possible

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Ammie

1 year ago

A) yes- the first thing the team should look at are the risks and categorise these by topic

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Curtis

1 year ago

Creating a risk register and mitigation strategies ASAP? Sounds like someone's trying to get a promotion! Chloe, slow down and do it right. This isn't a race.

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Carlota

12 months ago

Creating a risk register and mitigation strategies ASAP? Sounds like someone's trying to get a promotion! Chloe, slow down and do it right. This isn't a race.

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Glory

1 year ago

B) yes- the team should focus on creating a risk register and strategies for mitigating risks as quickly as possible

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Kimbery

1 year ago

A) yes- the first thing the team should look at are the risks and categorise these by topic

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King

1 year ago

Chloe's suggestion makes sense. But I think speaking with suppliers first would give the team more insight into the actual risks in the supply chain. That's a better starting point than guessing.

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Eleni

1 year ago

I disagree. The team should review the company's risk appetite first. That will guide their approach to mitigating the risks. Can't create a risk register without understanding the organization's risk tolerance.

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Salley

1 year ago

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Kate

1 year ago

A) yes- the first thing the team should look at are the risks and categorise these by topic

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Angella

1 year ago

Absolutely, Chloe is on the right track. Identifying the risks and categorizing them is the logical first step. It'll help the team get a comprehensive overview of the potential issues.

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Hoa

1 year ago

C) no- the team should review the company's risk appetite before creating a risk register

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Mel

1 year ago

B) yes- the team should focus on creating a risk register and strategies for mitigating risks as quickly as possible

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Rodney

1 year ago

A) yes- the first thing the team should look at are the risks and categorise these by topic

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