Question 116 - PMI-RMP discussion

According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline1, one of the tasks in the domain ofRisk Responseis to execute the approved risk response plan in accordance with project guidelines and procedures1.A risk response plan is a component of the project management plan that describes the agreed-upon and funded actions to address the project risks, both positive and negative2. In this scenario, the risk manager should execute the approved risk response plan to deal with the new risk that appears when requesting fuel from another supplier, which will cause delays with several other projects.The risk response plan should have been developed and approved during the risk response planning process, which involves selecting and prioritizing the appropriate risk strategies and actions for each risk3.The risk response plan should also be aligned with the project guidelines and procedures, which are the rules and directions that define the project's scope, schedule, cost, quality, and other aspects4.The risk manager should not escalate the problem to the project sponsors, because that is not a risk response strategy, but rather a way to seek higher-level authority or support for a risk that is outside the project's scope or influence5.The risk manager should not negotiate with the supplier to resolve the problem, because that is not a risk response strategy, but rather a procurement management technique that involves reaching a mutually acceptable agreement with the supplier on the terms and conditions of the contract6.The risk manager should not assign a team member to update the issue log, because that is not a risk response strategy, but rather a risk monitoring and reporting technique that involves tracking and documenting the issues that have occurred or are currently affecting the project7.Reference:1: PMI Risk Management Professional (PMI-RMP) Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 4143: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 4404: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 385: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 4376: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 4717: What Is an Issue Log?Templates & Tips7.