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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 93 - PMI-RMP discussion

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After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the results presented by the project team. This is a major issue and will cause a 2-week delay in the project.

How could the risk manager have avoided the board's response?

A.

Engaging the key stakeholders during the prioritization process

Answers
A.

Engaging the key stakeholders during the prioritization process

B.

Prioritizing the risks based on the project sponsor's risk appetite

Answers
B.

Prioritizing the risks based on the project sponsor's risk appetite

C.

Engaging with the project sponsor before presenting to the board

Answers
C.

Engaging with the project sponsor before presenting to the board

D.

Working with an established industry standard prioritization method

Answers
D.

Working with an established industry standard prioritization method

Suggested answer: A

Explanation:

According to the PMBOK Guide, risk prioritization is the process of assigning a level of importance to each identified risk based on its probability and impact, as well as other factors such as urgency, stakeholder tolerance, and project objectives. Risk prioritization helps the project team to focus on the most significant risks and allocate resources accordingly. One of the tools and techniques for risk prioritization is stakeholder engagement, which involves involving the key stakeholders in the risk analysis and decision making process. Stakeholder engagement helps to ensure that the risk prioritization reflects the expectations and preferences of the stakeholders, and that they are aware of and agree with the results. By engaging the key stakeholders during the prioritization process, the risk manager could have avoided the board's request to sort the risks differently, as the board would have been part of the process and would have accepted the outcome.Reference: = PMBOK Guide, 6th edition, pages 406-407; The Standard for Risk Management in Portfolios, Programs, and Projects, page 67.

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asked 14/11/2024
Sam K
30 questions
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