Program Management Professional Program Risk and Issue Management 2

Question 1

How does an 'issue' differ from a 'risk' in program management?

Accepted Answer

An issue is a realized problem requiring immediate action, while a risk is a potential future event

Answer

A risk is a potential uncertain event with positive or negative impact, while an issue is a current problem that has already occurred and requires resolution.

Question 2

Which tool is used to prioritize risks based on their probability and impact?

Accepted Answer

Probability and Impact Matrix

Answer

The Probability and Impact Matrix plots risks across two dimensions to prioritize them by their overall risk exposure score.

Question 3

When a program risk response is implemented, what should the program manager monitor for?

Accepted Answer

Residual risks (remaining after response) and secondary risks (created by the response)

Answer

After implementing a risk response, the program manager must track residual risks that remain and watch for secondary risks introduced by the response itself.

Question 4

A 'workaround' in program risk management is best described as:

Accepted Answer

An unplanned response developed after a risk has materialized and no response plan exists

Answer

A workaround is an ad hoc response to an unplanned risk event, developed on-the-fly when no prior contingency plan was established.

Question 5

The concept of 'risk interdependency' at the program level refers to:

Accepted Answer

The way risks in one component project can trigger or amplify risks in other components

Answer

Risk interdependencies mean a risk occurring in one component may cascade into or amplify risks in other components, requiring program-level coordination.

Program Management Professional Practice Test

Program Management Professional Practice Test

Program Management Professional Program Risk and Issue Management 2