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A risk manager has been assigned to a new project and learns that stakeholders and project team members are spread across multiple time zones. Furthermore, many project team members have not worked together in the past. These items are identified as potential risks and added to the risk register. How should the risk manager improve collaboration during risk planning?
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Question 54 - PMI-RMP discussion

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A certain risk is identified for a major project, and the risk response is planned. However, the analysis reveals a high probability for a secondary risk which will be tolerated based on the organization's risk thresholds. The secondary risk is subsequently registered. During project execution, the primary risk occurs, the planned action is taken, and the secondary risk emerges

What two actions should the risk owner take? (Choose two.)

A.

Implement the secondary risk response and update the project documents.

Answers
A.

Implement the secondary risk response and update the project documents.

B.

Conduct meeting with all stakeholder to agree on post impact solutions.

Answers
B.

Conduct meeting with all stakeholder to agree on post impact solutions.

C.

Set the corresponding trigger conditions to the secondary risk.

Answers
C.

Set the corresponding trigger conditions to the secondary risk.

D.

Engage the project manager to authorize the secondary risk's response.

Answers
D.

Engage the project manager to authorize the secondary risk's response.

E.

Update and communicate assessments of the secondary risk's impact.

Answers
E.

Update and communicate assessments of the secondary risk's impact.

Suggested answer: A, E

Explanation:

The risk owner should implement the secondary risk response, as it is now being tolerated, and update the project documents accordingly. They should also update and communicate the assessments of the secondary risk's impact to ensure everyone is aware of the situation.

According to the PMI-RMP Handbook1, the risk owner is responsible for implementing the risk response plan and monitoring the risk and its secondary risks. Therefore, the risk owner should take the following two actions when the secondary risk emerges:

Implement the secondary risk response and update the project documents. This action is consistent with the risk response strategy of tolerance, which means accepting the risk and its consequences. The risk owner should execute the planned response for the secondary risk, such as contingency plans or fallback plans, and update the relevant project documents, such as the risk register, the risk report, and the lessons learned register, to reflect the current status and impact of the risk.

Update and communicate assessments of the secondary risk's impact. This action is consistent with the risk monitoring and control process, which involves tracking the identified risks, evaluating their impact and probability, and reporting the risk information to the appropriate stakeholders. The risk owner should reassess the secondary risk's impact on the project objectives, such as scope, schedule, cost, and quality, and communicate the results to the project manager and other relevant stakeholders, such as the sponsor, the customer, and the team members.

PMI-RMP Handbook1

PMBOK Guide, 6th edition, Chapter 11: Project Risk Management2

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asked 14/11/2024
Eddie Martinez
36 questions
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