PMI-RMP Certification Risk Response Planning & Monitoring Flashcards
6 cards from real PMI-RMP Certification practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 PMI-RMP Certification Risk Response Planning & Monitoring flashcards as text
What is the purpose of a risk trigger (also called a risk symptom or warning sign)?
Answer: To indicate that a risk event is about to occur so a contingency plan can be activated
Risk triggers are early warning indicators that signal a risk is imminent, allowing the team to activate contingency plans proactively.
In risk monitoring, what does a 'risk audit' examine?
Answer: The effectiveness of risk responses and the risk management process
Risk audits assess whether risk responses are working as planned and whether the overall risk management process is being followed effectively.
Which reserve is set aside to address known-unknown risks (identified risks with response plans)?
Answer: Contingency Reserve
Contingency reserves are budgeted funds planned to address specific identified risks if they occur, and they are part of the project cost baseline.
What is the 'escalate' risk response strategy used for?
Answer: Addressing risks that are outside the project team's authority or scope
Escalation is used when a risk exceeds the project team's authority or spans organizational boundaries, requiring a higher-level decision-maker to own the response.
A risk owner is primarily responsible for which activity?
Answer: Implementing and monitoring the agreed risk response
The risk owner is the individual assigned to carry out the agreed risk response plan and to monitor the risk throughout the project lifecycle.
What is 'active acceptance' as a risk response strategy?
Answer: Establishing a contingency reserve or plan without taking advance action to address the risk
Active acceptance acknowledges the risk and establishes a contingency reserve or fallback plan while not taking proactive steps to reduce it beforehand.
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