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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 140 - PMI-RMP discussion

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In a large industrial business, an on-going system development project faces a previously identified risk. The risk is adequately managed by the risk manager, however there is still residual risk.

What should the risk manager do?

A.

Update the risk register accordingly and review it in regular project meetings.

Answers
A.

Update the risk register accordingly and review it in regular project meetings.

B.

Accept the risk because residual risks are often low.

Answers
B.

Accept the risk because residual risks are often low.

C.

Ask a subject matter expert (SME) to assess the residual risk and take action.

Answers
C.

Ask a subject matter expert (SME) to assess the residual risk and take action.

D.

Assign a risk owner and set it as high priority and high impact.

Answers
D.

Assign a risk owner and set it as high priority and high impact.

Suggested answer: C

Explanation:

Decision tree analysis is a technique that uses a graphical representation of various possible outcomes and consequences of different courses of action, based on their probabilities of occurrence and associated payoffs or costs. It can help the project team to compare and evaluate the alternatives and choose the optimal one. In this case, the risk manager should use decision tree analysis to help the team members predict the outcomes of their potential choices following their probability of occurrence.Political, economic, social, technological, legal, and environmental (PESTLE) analysis, strengths, weaknesses, opportunities, and threats (SWOT) analysis, and cost-benefit analysis are not techniques that can directly help the team members to predict the outcomes of their potential choices following their probability of occurrence, and are therefore not the best answer.Reference: PMI Risk Management Professional (PMI-RMP) Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP) Cert Guide3

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asked 14/11/2024
Oky ramadhani
42 questions
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