Certified Texas Contract Manager Practice Exam

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Prepare for the Certified Texas Contract Manager Exam. Study with practice questions and detailed explanations. Get ready to ace your exam!

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Which risk assessment tool identifies risks associated with a contract?

Risk Assessment Profile (RAP)
Contract Level Risk Assessment (CLRA)
Deliverable Assessment Matrix (DAM)
Project Risk Overview (PRO)

The correct answer is: Contract Level Risk Assessment (CLRA)

The correct choice is the Contract Level Risk Assessment (CLRA) because it is specifically designed to evaluate and identify risks that are directly related to a particular contract. This tool helps assess risks associated with the financial, operational, compliance, and reputational aspects of a contract, providing a tailored analysis that takes into consideration the specific terms and conditions outlined within that contract. On the other hand, while the Risk Assessment Profile (RAP) and the Project Risk Overview (PRO) can provide insights into broader organizational or project-wide risks, they are not as focused on the granular contract-specific risks as the CLRA. The Deliverable Assessment Matrix (DAM) typically evaluates deliverables in relation to project requirements but does not primarily target contract-related risks. Thus, the CLRA is the most appropriate tool for identifying risks directly associated with a contract, making it the best answer.