Correct answer to this ques

Submitted by pmp_neha on Sat, 03/31/2012 - 13:55

As a project manager, you understand the importance of identifying and documenting project risks. In this context, which of the following statements is true?

 
     Choice 1     Risk identification occurs during the Planning of the project
 
     Choice 2     Risk identification occurs during Monitoring and Controlling of the project
 
     Choice 3     Risk identification occurs during Execution of the project
 
     Choice 4     Risk identification occurs during different project stages depending on the type of the project
 

 

I thought the correct answer should be 4 as risks can be identified at later stages too, but the answer is 1. Please let me know your opinion about this qustion.

Forums: 
General Discussion
  • Log in to post comments
  • 1323 reads

pmp_man

Sat, 03/31/2012 - 14:17

Risk identification occurs during the Planning of the project i.e. first initiated during the planning process group and after this its keep on i.e. risk identification is done in all monitor process as project progress (progressive elaboration). So the correct answer is 1 because that’s the place when it is initiated (planned).

pmp_neha

Sat, 03/31/2012 - 17:32

You have been appointed as the manager of a new, large, and complex project. Because this project is
business-critical and very visible, senior management has told you to analyze the project's risks and prepare
response strategies for them as soon as possible. The organization has risk management procedures that
are seldom used or followed, and has had a history of handling risks badly. The project's first milestone is in
two weeks. In preparing the risk response plan, input from which of the following is generally LEAST
important?
A. Project team members
B. Project sponsor
C. Individuals responsible for risk management policies and templates
D. Key stakeholders

 

Please suggest what should be the correct answer.

krantikumar50

Sat, 03/31/2012 - 17:43

Looks like Sponsors look to be correct!

admin's picture

admin

Sun, 04/01/2012 - 15:14

In my opinion the answer should be C , These individuals are doing policies and templates at org level and ot directly connected to project.

Sponsor is the person putting in the money, he would definitely have good inputs on risks, his view cannot be ignored. If you were building a house, wouldnt you know the common risks , I would think you would have already told the things you dont want to your contractor.

 

pmp_man

Sat, 03/31/2012 - 17:49

The role of a sponsor is generally when you have budgeting issues i.e. during charter, change request, resource needs etc.


In your case, the first line shows that project charter has already been signed “You have been appointed as a project manager…”.


 


All other choice is mandatory during project planning and execution. So I would go with B Sponsor.

pmp_neha

Sat, 03/31/2012 - 18:07

 Thanks for your replies. B is the right answer.

After reading this sentence "The organization has risk management procedures that
are seldom used or followed, and has had a history of handling risks badly.", i thought C would be correct, as they would not have much experience.

pmp_man

Sat, 03/31/2012 - 18:18

Neha – Keep this in mind, whenever you are answering PMP questions never go with a choice that is against process and ethics.


 


“Individuals responsible for risk management policies and templates” is a process and if it’s a process you HAVE TO FOLLOW.


 


This trick will help you in many questions. A rule of thumb for PMP questions - Always keep in mind – Never Break any rule (process and ethics)