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Question 125 - PMI-RMP discussion

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An organization faces immense competition in the market and decides to accelerate a key project. What is the first action for the project risk manager to take?

A.

Update the risk register

Answers
A.

Update the risk register

B.

Meet with the project's stakeholders

Answers
B.

Meet with the project's stakeholders

C.

Revise the risk management plan

Answers
C.

Revise the risk management plan

D.

Ensure sufficient resources are available

Answers
D.

Ensure sufficient resources are available

Suggested answer: C

Explanation:

According to the PMBOK Guide1, the risk management plan is a component of the project management plan that describes how risk management activities will be structured and performed. It provides guidance on how the project team will identify, analyze, respond, monitor, and control risks throughout the project life cycle. The risk management plan should be reviewed and updated whenever there are changes in the project scope, schedule, budget, or objectives, as these changes may introduce new risks or affect the existing ones. In this case, the organization's decision to accelerate a key project is a significant change that may alter the risk profile of the project. Therefore, the first action for the project risk manager to take is to revise the risk management plan to reflect the new situation and ensure that the risk management processes are aligned with the project objectives and constraints.This is part of the Plan Risk Management process in the PMBOK Guide1.Reference:1: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition

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asked 14/11/2024
OLUWAGBENRO AFUWAPE
39 questions
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