Project Management Risk Response Planning 5

Question 1

A project manager discovers that a risk response is not working as planned after implementation. The BEST next step is to:

Accepted Answer

Update the risk register and develop an alternative response

Answer

If a response proves ineffective, the risk register should be updated and an alternative or fallback response developed.

Question 2

Which risk response strategy is MOST appropriate when the probability of a threat occurring is very high and the impact would be catastrophic?

Accepted Answer

Avoid

Answer

When both probability and impact are extreme, avoidance — eliminating the risk entirely by changing the plan — is the most prudent strategy.

Question 3

A risk trigger (also called a 'risk symptom' or 'warning sign') is used to:

Accepted Answer

Signal that a risk event is about to occur, activating the contingency plan

Answer

A risk trigger is an early indicator that a risk event is imminent, prompting the activation of the pre-planned contingency response.

Question 4

The risk response strategies of Avoid, Transfer, Mitigate, and Accept are used for which type of risks?

Accepted Answer

Threats only

Answer

Avoid, Transfer, Mitigate, and Accept are the four PMBOK strategies specifically for addressing threats (negative risks).

Question 5

A project manager budgets additional funds in the management reserve for unknown risks. This approach represents:

Accepted Answer

Passive acceptance of unknown risks

Answer

Management reserve addresses unknown unknowns through passive acceptance — funds are held but no specific response plan exists.

Project Management Practice Test