Risk Management & Mitigation Flashcards

Which of the following best describes 'risk transfer' in an agile context?

Answer: Shifting the financial or operational impact of a risk to a third party

Risk transfer shifts the consequence of a risk to another party, such as through insurance, warranties, or contractual agreements with vendors.

Which agile technique helps manage the risk of insufficient testing coverage?

Answer: Definition of Done that includes automated testing criteria

Including automated testing criteria in the Definition of Done ensures no story is accepted without adequate test coverage, reducing quality risk.

A risk that has occurred and is now impacting the project is called a(n):

Answer: Issue

Once a risk event actually occurs and requires action, it becomes an issue that must be actively managed and resolved.

In agile, who is primarily responsible for owning and managing product-level risks?

Answer: Product Owner

The Product Owner owns the product backlog and business outcomes, making them responsible for identifying and managing product-level risks.

Which practice helps agile teams identify risks before a sprint begins?

Answer: Sprint Planning

During Sprint Planning the team examines selected backlog items and can identify technical or dependency risks before committing to the sprint goal.

A 'risk appetite' in agile portfolio management refers to:

Answer: The level of risk an organization is willing to accept in pursuit of its goals

Risk appetite is the amount and type of risk an organization is prepared to accept while pursuing objectives, guiding prioritization decisions.

Secondary risks are best described as risks that:

Answer: Arise as a direct result of implementing a risk response

Secondary risks are new risks created by the actions taken to respond to an original risk, and they must also be managed.