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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?
The project team is updating the risk register with the minimum acceptable level of exposure and impact for each risk. The team also wants to determine if they have reached the maximum level of exposure before they escalate the risk. What should the team perform in this scenario?
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A risk manager for a large project has completed documenting the risk management plan. The project is moving from planning to execution. Which three actions should the risk manager take to ensure the risk management plan remains effective during the project timeframe? (Choose 3)

Question 97 - PMI-RMP discussion

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Some project risks are applicable for the project's lifecycle while others risks are only applicable to specific project activities. When should project risks be closed?

A.

When the forecast activity date has been met or exceeded

Answers
A.

When the forecast activity date has been met or exceeded

B.

When the stakeholders agree a risk is no longer applicable

Answers
B.

When the stakeholders agree a risk is no longer applicable

C.

When the risk has been realized and can no longer happen again

Answers
C.

When the risk has been realized and can no longer happen again

D.

When iterative data analysis determines the risk is not applicable

Answers
D.

When iterative data analysis determines the risk is not applicable

Suggested answer: B

Explanation:

Project risks should be closed when the stakeholders agree a risk is no longer applicable. This ensures that risks are actively managed and only relevant risks are considered throughout the project lifecycle.

According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, project risks are uncertain events or conditions that may have a positive or negative effect on one or more project objectives1. Project risks can be closed when they are no longer applicable to the project or its activities.The process of closing project risks involves verifying that the risk responses have been completed, documenting the outcomes, and evaluating the effectiveness of the risk management process2. The decision to close a project risk should be made by the stakeholders who are responsible for or affected by the risk, as they are the ones who can determine whether the risk is still relevant or not. Therefore, the correct answer is B. When the stakeholders agree a risk is no longer applicable.

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asked 14/11/2024
Mpho Ntshontsi
41 questions
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