Implement Risk Responses Flashcards

A risk response plan to mitigate potential supply chain delays for a construction project has been approved. The assigned risk owner is the procurement manager. During the Implement Risk Responses process, what is the procurement manager's primary responsibility?

Answer: To execute the specific actions outlined in the risk response plan.

The Implement Risk Responses process is focused on taking action. The risk owner's primary duty is to ensure the agreed-upon response plan is executed as intended. While they may also be involved in monitoring and reporting, the core of this process is the execution of the plan.

A project team implements a mitigation strategy for a technical risk. However, during a weekly review, the risk owner reports that the implemented actions are not reducing the risk's exposure score as anticipated. What should be the project manager's immediate next step?

Answer: Analyze the effectiveness of the response and, if necessary, develop an alternative response plan.

A key part of implementing and monitoring risk responses is ensuring they are effective. If a response is not working, the project manager and risk owner must analyze the situation, understand why it's failing, and potentially invoke fallback plans or develop new responses. This is a core part of the continuous risk management process.

A project team is implementing a 'transfer' response by hiring a subcontractor to handle a complex part of the work. During the subcontractor onboarding process, the project manager realizes that the subcontractor's quality control processes are weaker than expected. This introduces a new risk of defective deliverables. What is this newly discovered risk called?

Answer: Secondary risk

A secondary risk is a new risk that arises as a direct result of implementing a risk response. In this case, the response was to transfer the risk, and the implementation of that response created a new risk related to the subcontractor's quality. Residual risk is the amount of risk left over *after* the response has been implemented.

Which of the following is a key activity performed during the Implement Risk Responses process?

Answer: Ensuring the risk owner carries out the agreed-upon actions.

The Implement Risk Responses process is an executing process focused on action. Its primary goal is to ensure that the risk owners execute the planned responses to deal with identified risks. Prioritizing risks, performing simulations, and initial identification happen in earlier risk management processes.

A risk owner is tasked with implementing a mitigation plan that requires a specialized software developer for two weeks. However, the developer is fully allocated to a critical path activity managed by another team lead. The risk owner and the team lead cannot agree on a solution. What is the project manager's MOST appropriate next action?

Answer: Escalate the resource conflict to the functional manager or project sponsor for prioritization.

This scenario describes a resource conflict between a risk response activity and a critical path task that the project manager cannot resolve at the project level. The appropriate action is to escalate the issue to the level of authority that can make a decision on resource priorities, which is typically a functional manager, portfolio manager, or the project sponsor.

The primary purpose of the Implement Risk Responses process is to:

Answer: Ensure that agreed-upon risk response plans are executed.

The Implement Risk Responses process is where the planned actions are put into motion. Its central focus is on ensuring that the strategies and actions decided upon in the Plan Risk Responses process are actively carried out by the assigned risk owners. The other options describe activities from other risk management processes.