Implement Risk Responses Flashcards

A risk owner is responsible for executing the agreed-upon response, but who is typically assigned to carry out the specific actions of the response plan?

Answer: The risk action owner

The risk action owner is the person assigned to perform the specific risk response actions, distinct from the risk owner who monitors the risk.

During implementation of risk responses, an unanticipated risk emerges that requires immediate action. What is this commonly called?

Answer: A workaround

A workaround is an unplanned response to a risk that was not previously identified or was accepted passively.

After implementing a response, a new risk arises that is a direct consequence of that response. This is known as what?

Answer: Secondary risk

A secondary risk is a new risk created directly by the implementation of a risk response.

Which document should the risk manager update immediately after a risk response is implemented to reflect actions taken and remaining exposure?

Answer: Risk register

The risk register is updated to record implemented responses, residual risks, and any new secondary risks.

A risk response is being implemented but the assigned action owner lacks authority over the needed resources. What should the risk owner do FIRST?

Answer: Escalate to the project manager for resource authorization

When an action owner lacks authority, the risk owner should escalate to the project manager who can authorize the needed resources.

What is the primary purpose of implementing risk responses in the project lifecycle?

Answer: To ensure agreed-upon responses are executed as planned

Implement Risk Responses ensures that the responses planned during Plan Risk Responses are actually carried out.

The remaining exposure after a risk response has been implemented is referred to as what?

Answer: Residual risk

Residual risk is the risk that remains after planned responses have been taken.