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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 142 - PMI-RMP discussion

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During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.

Which action should the risk manager take to address this risk?

A.

Accept the identified risk because other stakeholders feel that there are higher priority risks to address.

Answers
A.

Accept the identified risk because other stakeholders feel that there are higher priority risks to address.

B.

Mitigate the identified risk in order to reduce the probability of impacting the stakeholder's team.

Answers
B.

Mitigate the identified risk in order to reduce the probability of impacting the stakeholder's team.

C.

Escalate the identified risk to the project sponsor and allow them to determine the best course of action.

Answers
C.

Escalate the identified risk to the project sponsor and allow them to determine the best course of action.

D.

Add the identified risk to the risk register for future probability and impact analysis.

Answers
D.

Add the identified risk to the risk register for future probability and impact analysis.

Suggested answer: D

Explanation:

Adding the identified risk to the risk register is the best action that the risk manager can take to address this risk. The risk register is a document that records the identified risks, their characteristics, their status, and their responses. By adding the risk to the risk register, the risk manager can ensure that the risk is not overlooked or ignored, and that it will be subjected to further probability and impact analysis to determine its priority and response strategy. Accepting the identified risk because other stakeholders feel that there are higher priority risks to address is not a good practice, as it may lead to overlooking a potentially significant risk that could affect the stakeholder's team. Mitigating the identified risk in order to reduce the probability of impacting the stakeholder's team is not advisable, as it may be a premature or unnecessary action without proper analysis of the risk probability and impact.Escalating the identified risk to the project sponsor and allowing them to determine the best course of action is not appropriate, as it may be an overreaction or a sign of lack of competence from the risk manager, who should be able to handle the risk identification and analysis process.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
BETTE SLETTER
35 questions
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