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Question 33 - PMI-RMP discussion

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A project manager works on a long-term and high visibility project at an organization that has a low risk appetite towards this project due to its impact on the company's business. The project sponsors follow up weekly with the project manager, who was just informed by one of the risk owners that the exposure from two high-impact risks are hitting the risk thresholds.

What should the project manager do next?

A.

Update the project management plan to add contingency.

Answers
A.

Update the project management plan to add contingency.

B.

Perform an assumptions and constraints analysis.

Answers
B.

Perform an assumptions and constraints analysis.

C.

Complete an assessment and confirm the response with the sponsors.

Answers
C.

Complete an assessment and confirm the response with the sponsors.

D.

Implement mitigation measures for those risks.

Answers
D.

Implement mitigation measures for those risks.

Suggested answer: C

Explanation:

According to the PMBOK Guide, 6th edition, Section 11.4.3.1, Risk Thresholds, risk thresholds are the level of risk exposure above which risks are addressed and below which risks may be accepted. Risk thresholds are determined by the organization's risk appetite, which is the degree of uncertainty that an organization is willing to accept in pursuit of its goals. Therefore, when the project manager is informed by the risk owner that the exposure from two high-impact risks are hitting the risk thresholds, the project manager should complete an assessment and confirm the response with the sponsors, who are the key stakeholders for the project and have a low risk appetite.The project manager should not update the project management plan, perform an assumptions and constraints analysis, or implement mitigation measures without first consulting with the sponsors and obtaining their approval.Reference: PMBOK Guide, 6th edition, Section 11.4.3.1, Risk Thresholds

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asked 14/11/2024
stefano nicoletti
35 questions
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