Project Risk Management Risk Monitoring and Control 5

Question 1

What role does a 'risk owner' play specifically during the Monitor Risks process?

Accepted Answer

Monitors assigned risks, implements responses, and reports status

Answer

During monitoring, each risk owner is responsible for watching their assigned risks, executing planned responses when triggers occur, and reporting current status to the project manager.

Question 2

Which of the following best explains why risk monitoring must be continuous rather than a single event?

Accepted Answer

Project conditions change, new risks emerge, and existing risks evolve throughout the project

Answer

Projects are dynamic; new risks can emerge at any phase, existing risks can escalate or diminish, and project conditions change—making continuous monitoring essential for effective risk management.

Question 3

A risk audit reveals that risk responses are not being consistently implemented. What is the most appropriate corrective action?

Accepted Answer

Issue change requests to update the risk management plan and reinforce accountability

Answer

When audits reveal implementation gaps, the project manager should issue change requests to address the root cause and strengthen accountability through updated plans and clearer ownership.

Question 4

In a risk register, what does it mean when a risk's 'risk score' increases during a monitoring review?

Accepted Answer

The combination of probability and/or impact has grown, increasing the risk's priority

Answer

An increasing risk score (probability × impact) means the risk has become more likely or more severe, requiring elevated attention and potentially revised response strategies.

Question 5

Which of the following is a key difference between monitoring risks and controlling risks?

Accepted Answer

Monitoring tracks risk status; controlling implements responses and adjustments

Answer

While often combined as 'Monitor and Control Risks,' monitoring refers to tracking risk status and triggers, while controlling involves implementing responses and adjusting plans based on what is observed.

Project Risk Management Practice Test

Project Risk Management Practice Test

Project Risk Management Risk Monitoring and Control 5