Holly is the project manager of the GHH Project. During risk identification and the subsequent risk analysis process she has identified a risk with a high probability and high impact for her project. She and the stakeholder agree that the project management plan should be changed to eliminate the risk threat entirely. What risk response has Holly used in this instance?
Correct Answer: C
Question 152
A project manager identified a risk of communication issues with the client which may impact the project schedule. A member of (he sales team advises that this client prefers face-to- face conversations. What should the project manager do to avoid this risk?
Correct Answer: D
The project manager should address the communication risk by meeting the client's preference for face-to- face conversations. This can be achieved by planning face-to-face meetings for critical milestones. Communication issues with the client are a potential risk that can affect the project scope, schedule, quality, and stakeholder satisfaction. To avoid this risk, the project manager should align the communication methods and preferences with the client's expectations and needs. If the client prefers face-to-face conversations, the project manager should respect that and meet the client in person whenever possible. This can help build trust, rapport, and clarity between the project manager and the client. The project manager should also plan for critical milestone meetings with the client to review the project progress, deliverables, and feedback. This can help ensure that the project is on track and meets the client's requirements and satisfaction. References: PMI, 2017. A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition. Newtown Square, PA: Project Management Institute, Inc., pp. 376-3771
Question 153
During a status meeting, a functional manager complains that the server backup failed, impacting the department. This was a known risk documented in the risk register as an accepted risk. After reviewing the meeting minutes, itis determined that the functional manager had not participated in the risk planning phase. Which of the identification methods should have been applied?
Correct Answer: C
Question 154
The project manager is reviewing the lessons learned from a previous similar project. The previous project was delayed due to the delay in delivery of a gas turbine generator (GTG). Construction of the previous project had to be shut down unexpectedly to wait for the late delivery of the GTG. What should the project manager do first?
Correct Answer: C
The project manager should first gather more information about the previous project's issues by interviewing the other project manager. This will help in understanding the root causes of the delay and how to prevent similar issues in the current project before taking further action. The project manager should first include the risk of delay in delivery of the GTG in the risk register and communicate with the stakeholders about the potential impact and response strategies. This is part of the risk identification process, which is the first step in risk management. The risk register is a document that records the identified risks, their causes, effects, probabilities, impacts, and response plans. The project manager should communicate with the stakeholders to ensure that they are aware of the risk and its implications, and to obtain their feedback and support. The project manager should also update the risk register as new information becomes available or as the risk status changes. The other options are not the first actions that the project manager should take. Communicating with the client to provide the previous shutdown plan is part of the risk response process, which comes after the risk identification and analysis processes. Reviewing and updating the project schedule is part of the schedule management process, which is not directly related to risk management. Interviewing the other project manager to learn more details is a technique that can be used to identify risks, but it is not the first action that the project manager should take. The project manager should first document the risk in the risk register and communicate with the stakeholders before seeking more information from other sources. References: 3, 4, 5
Question 155
Three months into a program, multiple workstreams are showing issues. At this point, the program manager requires that a risk impact assessment be conducted. What will help calculate the impact?
Correct Answer: A
Risk impact assessment involves calculating the impact of identified risks. Risk analysis is the process of examining, estimating, and evaluating the impact of risks, which helps in calculating the impact (Reference: PMBOK Guide, 6th Edition, p. 417) Risk analysis is the process of assessing the likelihood and impact of the identified risks on the program objectives. It helps to calculate the impact of the risks by using qualitative or quantitative methods. Risk analysis can provide useful information for risk prioritization, risk response planning, and risk reporting. Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 67; PMI, The Standard for Program Management, Fourth Edition, 2017, p. 113.
