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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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During project execution, a project manager invites the stakeholders to a risk review meeting. During this meeting, a vendor highlights that the mitigation plan for a schedule risk has generated an additional risk. What should the risk manager do first?
Stakeholder deliverable reviews will start soon and additional work is expected to resolve any issues or required adjustments. Budget overruns during execution have put serious constraints on the remainder of the project's budget. What should the project manager do next?
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The risk manager for an IT project developing a software application has a major stakeholder concerned that the project will not conclude within the available funding. The risk manager found delays in the iterations and increments in the project's budget, potentially increasing the duration by two weeks. What tools should the risk manager use to properly decide the risk of not finishing the project within the budget?
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 123 - PMI-RMP discussion

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During a risk identification process in a construction project, the lack of space to install air conditioners is raised as a risk with high impact. Which is an example of an early risk trigger?

A.

A potential need to share the space with other machinery

Answers
A.

A potential need to share the space with other machinery

B.

A different type of equipment received before installation

Answers
B.

A different type of equipment received before installation

C.

A time delay during air conditioning installation activities

Answers
C.

A time delay during air conditioning installation activities

D.

A quality nonconformance issue raised during the inspection

Answers
D.

A quality nonconformance issue raised during the inspection

Suggested answer: A

Explanation:

A risk trigger is an indication or warning sign that a risk is about to occur or has occurred. A risk trigger can be an event, a condition, or a situation that signals the onset of a risk. A risk trigger can help the project team to identify and respond to risks in a timely manner. In this case, the lack of space to install air conditioners is a risk with high impact on the project. A potential need to share the space with other machinery is an example of an early risk trigger, because it indicates that the space issue may become a problem in the future. If the project team detects this trigger, they can take proactive actions to avoid or mitigate the risk, such as finding an alternative location, modifying the design, or negotiating with the stakeholders.Reference:PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 102-103.

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asked 14/11/2024
Stefan Duerr
26 questions
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