Project Risk Management Risk Identification Techniques 5

Question 1

A project team realizes that a key vendor's financial instability is a risk they nearly overlooked. Which risk identification approach would BEST help capture external supply chain risks systematically?

Accepted Answer

Environmental scanning and external stakeholder interviews

Answer

Environmental scanning and interviews with external stakeholders (e.g., vendors, regulators) surface risks outside the project team's direct view.

Question 2

What is the PRIMARY output of the Identify Risks process according to the PMBOK Guide?

Accepted Answer

Risk register

Answer

The risk register is the primary output of the Identify Risks process, documenting identified risks, potential risk owners, and preliminary responses.

Question 3

A project manager for a software project asks each team member to independently write risk ideas before sharing them with the group, then facilitates a structured discussion. This describes the:

Accepted Answer

Nominal group technique

Answer

The nominal group technique uses silent individual idea generation followed by structured group discussion, balancing independence and collaboration to improve risk coverage.

Question 4

Why is it important to identify BOTH threats and opportunities during the risk identification process?

Accepted Answer

Risk management covers all uncertain events, and opportunities can be exploited to benefit the project

Answer

Modern risk management recognizes that uncertainty can have positive outcomes (opportunities) as well as negative ones (threats), and both deserve proactive management.

Question 5

A risk identified as 'unclear regulatory requirements may change scope' is best categorized under which Risk Breakdown Structure (RBS) category?

Accepted Answer

External risks

Answer

Regulatory and legal risks originate outside the project organization and are classified under external risks in a standard RBS.

Project Risk Management Practice Test

Project Risk Management Practice Test

Project Risk Management Risk Identification Techniques 5