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| Section | Objectives |
|---|---|
| Topic 1: Risk Analysis | - Quantitative Risk Analysis - Qualitative Risk Analysis |
| Topic 2: Risk Monitoring and Control | - Risk Audits and Reviews - Risk Reporting and Communication |
| Topic 3: Risk Response Planning | - Threat Response Strategies - Opportunity Response Strategies |
| Topic 4: Risk Identification | - Overall Project Risk Identification - Identifying Individual Risks |
| Topic 5: Risk Strategy and Planning | - Stakeholder Engagement in Risk - Risk Management Planning |
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질문 # 189
Ben is the project manager of the CMH Project for his organization. He has identified a risk that has a low probability of happening, but the impact of the risk event could save the project and the organization with a significant amount of capital. Ben assigns Laura to the risk event and instructs her to research the time, cost, and method to improve the probability of the positive risk event. Ben then communicates the risk event and response to management. What risk response has been used here?
정답：A
질문 # 190
During a company's audit, it is found that no risk management information exists within the lessons learned database. What could the company do to increase the amount of risk management organizational process assets?
정답：B
질문 # 191
While implementing the risk response plan for a previously identified risk, some secondary risks were identified but not captured on the risk register. The project manager decided to review the risk management plan to ensure this does not happen for future, similar situations.
What should the project manager do next?
정답：B
설명：
Explanation
The project manager should monitor and control secondary and residual risks in the risk register. This will ensure that any new risks identified during the implementation of the risk response plan are captured and managed effectively. Monitoring and controlling risks is a continuous process that helps in identifying, analyzing, and planning for new risks as well as updating the risk register as needed.
According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline, one of the tasks under the domain of Risk Response Planning is to "identify and assess the effectiveness of alternative strategies to reduce threats or enhance opportunities, such as mitigation, transference, avoidance, and acceptance" 1. This implies that the project manager should also consider the potential secondary or residual risks that may arise from implementing the chosen risk response strategy. Secondary risks are new risks that are created as a direct result of implementing a risk response, while residual risks are those that remain after the risk response has been executed 2. Both types of risks should be identified and assessed for their impact and probability, and added to the risk register for further monitoring and control. Therefore, the correct answer is A.
References: 1: PMI Risk Management Professional (PMI-RMP) Examination Content Outline, page 91 2: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 4362
질문 # 192
A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a 50% chance of rain, construction should continue. Another stakeholder says that if there is less than a 60% chance of rain, construction should continue.
What should the risk manager do next to find out the correct limit?
정답：A
설명：
Explanation
The risk manager should review the agreed-upon risk tolerance to determine the correct limit for continuing construction based on the chance of rain. Risk tolerance is the level of risk an organization is willing to accept and should be established during the risk management planning process.
Risk tolerance is the degree of uncertainty that a stakeholder is willing to accept in respect to a negative outcome on a project objective. Risk tolerance can be expressed as a percentage, a range, a value, or a qualitative statement. Risk tolerance should be agreed upon by the project team and the stakeholders at the beginning of the project, and documented in the risk management plan. The risk manager should review the agreed-upon risk tolerance to find out the correct limit for the rain probability that would affect the construction activity. This would help to resolve the conflicting opinions of the stakeholders and ensure that the risk management decisions are aligned with the project objectives and expectations. Reviewing the agreed-upon risk tolerance is the best option among the choices given, as it is the most relevant and reliable source of information for the risk manager. Performing a sensitivity analysis, finding out the stakeholders' risk appetite, or using industry standard risk thresholds are not as effective or appropriate ways of finding out the correct limit, as they do not reflect the specific agreement and context of the project. References: PMI-RMP Certification Handbook1, page 9; PMBOK Guide, pages 414-415.
질문 # 193
Multiple new risks have come up on a project that were not included on the risk register. The project manager met with the team to explain that risk management is critical for the success of the project, and risk identification is key.
What should the project manager do next?
정답：A
설명：
The project manager should apply an iterative approach to risk identification, which involves continuous risk identification throughout the project lifecycle. This will help to identify andaddress new risks that may arise during the project.
According to the PMBOK® Guide, risk identification is the process of determining which risks may affect the project and documenting their characteristics. It is an iterative process because new risks may evolve or become known only as the project progresses through its life cycle. There are many techniques available for risk identification and assessment, such as brainstorming, interviews, checklists, SWOT analysis, cause and effect diagrams, etc. The project manager should apply an iterative approach to risk identification to ensure that all relevant risks are captured and updated throughout the project. The project manager should also involve the project team and other stakeholders in the risk identification process to obtain their input and perspectives.
The other options are not valid for the next step after explaining the importance of risk management to the team:
* Review assumptions and constraints around risks: This is a technique for risk identification, but it is not the only one. The project manager should use a combination of techniques to identify risks, not just focus on one aspect. Also, reviewing assumptions and constraints is not the same as applying an iterative approach, which implies repeating the risk identification process at regular intervals or when changes occur.
* Develop the risk response plans for identified risks: This is a step in the Plan Risk Responses process, which comes after the Perform Qualitative Risk Analysis and Perform Quantitative Risk Analysis processes. The project manager should not develop the risk response plans before identifying and analyzing the risks.
* Determine the likelihood and impact of the risks: This is a step in the Perform Qualitative Risk Analysis process, which comes after the Identify Risks process. The project manager should not determine the likelihood and impact of the risks before identifying them.
References: PMBOK® Guide1, Risk Management Professional (PMI-RMP)® Cert Guide
질문 # 194
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