Project Risk Management Risk Identification Techniques 4 — Questions and Answers
Question 1: During a risk identification workshop, a facilitator draws a central topic and branches for related ideas to explore risks holistically. Which technique is this?
- Affinity diagram
- Mind mapping (Correct answer)
- Influence diagram
- Cause-and-effect diagram
Correct answer: Mind mapping
Mind mapping creates a visual radial diagram from a central concept, allowing teams to explore and connect risk ideas freely and holistically.
Question 2: A construction project team identifies risks by evaluating the project's internal strengths and weaknesses alongside external opportunities and threats. Which technique is this?
- Risk breakdown structure review
- SWOT analysis (Correct answer)
- Prompt list review
- Sensitivity analysis
Correct answer: SWOT analysis
SWOT analysis examines internal (strengths, weaknesses) and external (opportunities, threats) factors, expanding risk identification beyond purely negative events.
Question 3: In risk identification, 'trigger conditions' are important because they:
- Replace the need for a risk register
- Serve as early warning signs that a risk event may be about to occur (Correct answer)
- Automatically transfer the risk to another party
- Define the maximum acceptable cost of a risk
Correct answer: Serve as early warning signs that a risk event may be about to occur
Trigger conditions (risk symptoms or warning signs) are indicators that alert the team a risk is imminent, enabling timely response activation.
Question 4: A project manager interviews procurement specialists, legal counsel, and technical leads separately to gather risk perspectives. This approach best illustrates which principle of effective risk identification?
- Risks should only be identified by the project manager
- Diverse stakeholder perspectives improve risk identification completeness (Correct answer)
- Expert interviews replace the need for documentation review
- Technical risks are always more important than organizational risks
Correct answer: Diverse stakeholder perspectives improve risk identification completeness
Engaging diverse stakeholders from different disciplines surfaces risks across technical, legal, and organizational dimensions that no single perspective would capture.
Question 5: Which statement BEST describes the iterative nature of risk identification in a project?
- Risk identification is completed once during project initiation
- New risks can emerge throughout the project and should be identified continuously (Correct answer)
- Risk identification only occurs after major deliverables are completed
- Risk identification stops once the risk register reaches 50 items
Correct answer: New risks can emerge throughout the project and should be identified continuously
Risk identification is an ongoing, iterative process because new risks can emerge as the project progresses and the environment changes.
Question 6: When using process flowchart analysis for risk identification, what does the team primarily examine?
- The financial budget baseline for cost risks
- How work flows between steps to identify points of failure or handoff risk (Correct answer)
- The organizational chart for resource conflicts
- The communications management plan
Correct answer: How work flows between steps to identify points of failure or handoff risk
Process flowcharts reveal sequential dependencies and handoff points where errors, delays, or failures are most likely to occur.
Question 7: A pharmaceutical project team conducts a Failure Mode and Effects Analysis (FMEA) during risk identification. What does FMEA primarily help identify?
- The schedule critical path
- How and where a process or component could fail and the impact of each failure (Correct answer)
- The cost reserve needed for the project
- The most experienced team members for risk response
Correct answer: How and where a process or component could fail and the impact of each failure
FMEA systematically examines every potential failure mode in a system or process and evaluates the severity, occurrence, and detectability of each failure's effects.
Project Risk Management Risk Identification Techniques 4
During a risk identification workshop, a facilitator draws a central topic and branches for related ideas to explore risks holistically.
Which technique is this?