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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?
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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 141 - PMI-RMP discussion

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A new risk manager has been assigned to a project experiencing delays, quality issues, low performance, and client complaints. The work is being completed with the client's vendor, which apparently has been causing all of the issues.

What should the risk manager do first?

A.

Enhance risk identification.

Answers
A.

Enhance risk identification.

B.

Review the contingency reserves.

Answers
B.

Review the contingency reserves.

C.

Create a risk response plan.

Answers
C.

Create a risk response plan.

D.

Review the risk registry.

Answers
D.

Review the risk registry.

Suggested answer: D

Explanation:

The risk registry is a document that records the identified risks, their characteristics, their status, and their responses. It is a key input for risk management and a source of information for project stakeholders. The risk manager should review the risk registry first to understand the current state of the project risks, especially the ones related to the client's vendor, and to evaluate the effectiveness of the risk responses implemented so far. Enhancing risk identification, reviewing the contingency reserves, and creating a risk response plan are possible actions that the risk manager may take after reviewing the risk registry, but they are not the first thing to do.

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
Yohan Frachisse
35 questions
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