A project manager is managing a large project. A stakeholder has just discovered a new risk that has not been identified in earlier stages. What should the project manager do?
A.
Confirm to the stakeholder that the risk register has been completed and validated by all stakeholders
B.
Perform a risk analysis directly with the stakeholder who raised the risk and update the risk register
C.
Communicate the risk to the steering committee and request a mitigation plan from senior management
D.
Add the risk to the risk register and reevaluate the register with help from the project team and stakeholders
I'd vote for B. Stakeholder has found a risk and this needs to be understood first. So I communicate with this specific stakeholder first, and update risk register. After that, risk analysis can be done with the relevant stakeholders
I'd vote for B. Stakeholder has found a risk and this needs to be understood first. So I communicate with this specific stakeholder first, and update risk register. After that, risk analysis can be done with the relevant stakeholders
A. Confirm to the stakeholder that the risk register has been completed and validated by all stakeholders
This option is out. Risk can be identified and added to the risk register at any time in a project life cycle.
B. Perform a risk analysis directly with the stakeholder who raised the risk and update the risk register
This option is out. Why we're not involving the project team when they can help to do it in a better way
C. Communicate the risk to the steering committee and request a mitigation plan from senior management
This option is out. This is a knee-jerk reaction, without analysing and evaluating we shouldn't bypass the process.
D. Add the risk to the risk register and reevaluate the register with help from the project team and stakeholders
This is a correct option. This is a correct risk management procedure, acknowledge the risk discovery by adding to risk register and then involve project team and stakeholders to evaluate the risk
When a new risk is identified, the project manager should immediately add it to the risk register and involve the project team and relevant stakeholders in reevaluating the register.
Risk analysis should involve the entire project team and other stakeholders to ensure a comprehensive evaluation.
D. Add the risk to the risk register and reevaluate the register with help from the project team and stakeholders. When a new risk is identified, the project manager should update the risk register and involve the team and stakeholders in reevaluating the risks to determine the impact and mitigation strategies. This ensures that all relevant parties are aware of the new risk and can collaboratively work on addressing it. A. Confirming that the risk register was completed and validated ignores the new information and would not adequately address the risk. B. Performing a risk analysis directly with the stakeholder is useful, but the project manager should involve the full project team to ensure all perspectives are considered. C. Communicating the risk to the steering committee and requesting a mitigation plan from senior management bypasses the project team and limits collaborative input.
B : When a new risk is identified, the first priority is to understand the risk in detail. To do this, it is crucial to conduct a direct analysis with the stakeholder who raised the risk. This process allows for a thorough understanding of the risk, which can then be accurately documented in the risk register. This ensures that the risk is properly assessed and that appropriate actions can be taken. Therefore, B is the correct answer.
I don't think it's okay to perform risk analysis directly with just one stakeholder and not include other stakeholders. That might cause issues in the the long run. All stakeholders should be carried along.
its a common knowledge that if a team-member discovered (Identified) a new risk and informed the PM. The PM should add it to the register and evaluate/asses the potential impact of the risk in collaboration with the team and related stakeholders. so in this case D is the right answer
D. Adding the risk to the risk register and reevaluating the register with help from the project team and stakeholders is the most appropriate action. This approach ensures that the risk is documented and allows for a thorough assessment of the risk, its potential impact, and appropriate mitigation strategies. By involving the project team and stakeholders, the project manager can leverage their collective knowledge and expertise to better understand and manage the risk.
D. After adding the new risk to the risk register, it is essential to reevaluate the entire register to ensure that the overall project risk assessment remains accurate and that appropriate risk response strategies are in place. This reevaluation should involve collaboration with the project team and stakeholders to leverage their expertise and insights, ensuring a comprehensive and effective approach to risk management.
Speak with the stakeholder to understand his concern is enough, then add to risk register and perform evaluation with team and stakeholders.
B seems to be correct, however it emphasizes analyzing risk directly with the stakeholder. It's too much for the stakeholder and on the other side, not enough to analyze the risk when ignoring the participation of team and other stakeholders.
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