Exam PMP topic 1 question 730 discussion

Update risk ragister, not update risk plan. Risk plan is used for mitigation and referencing, not to register new risks/issues. D not B

D. Update the risk register and discuss it with the project stakeholders. When there's a potential issue like a delay in equipment delivery, it's important to document it in the risk register as a risk event. This allows the project manager to assess its potential impact and likelihood and to identify possible risk response strategies. By updating the risk register, the project manager can track the risk and ensure it's being actively managed throughout the project. Additionally, discussing the issue with project stakeholders is important because they need to be aware of the potential impact on the project schedule and any contingency plans that may be put in place. Keeping stakeholders informed is crucial for transparency and effective communication in managing project risks.

Validating the information and understanding the impact of the delay is the first step in managing risks. According to the PMBOK® Guide, before escalating or taking action, project managers should gather accurate data to ensure the situation is well understood. This is part of risk identification and risk analysis. Once the information is validated, the project manager should update the risk management plan to include the new risk and develop a response strategy. This proactive approach aligns with the risk management process in the PMBOK®, where risks are identified, analyzed, and managed throughout the project lifecycle.

D is correct. From Takedajuku perspective, if you study for 4 days and spend 2 days reviewing, you will have a better chance of passing the exam.

The risk has been identified ( the equipment is delayed) and the impact is also identifed ( will delay the project or affecting the schedule). So why to validate. Option D is right.

Its D ...there is no risk management plan (its risk register) and nothing to validate (responsible manager just confirmed)...now talk to the team and solve that sh***

Given the scenario described, the project manager should take the following steps: B. Validate the information and update the risk management plan. Validating the information about the delay in equipment delivery is crucial before taking any further actions. Once the delay is confirmed, updating the risk management plan to include this new risk is necessary to mitigate its impact on the project schedule. This ensures that the project team is aware of the potential issue and can plan accordingly. Additionally, by updating the risk management plan, the project manager can document the risk response strategy, such as identifying possible alternatives or mitigations to minimize the impact of the delay.

Risk management plan should be changed after discussion. Thus B is not correct.

B is the answer

I believe that the concern should be validated first, then logged then discussed with the stakeholders.

The project manager is CONCERNED that this will directly effect the project schedule. Validate the information first.

D. Update the risk register and discuss it with the project stakeholders

I agree with D. Although B seems like a good option, I believe a change request would be needed to update the risk management plan as it is part of the project management plan and any change to plans require it to follow a change control process. The risk register is a living document that should be updated throughout the project lifecycle.

The question is, "What should the project manager do next?" Next is the Key word so you update the risk register talk with the stakeholders then you work with the Project Sponsor on the Issue.

The project manager should validate the information and update the risk management plan. Validating the information received from the procurement manager is the first step in identifying and assessing the impact of the delay. Once the delay has been confirmed, the project manager should update the risk management plan to include this new risk event. The updated risk management plan should include a description of the risk event, the potential impact, and a mitigation plan to minimize or eliminate the risk. This will help the project manager to proactively manage the risk and minimize any potential impact on the project schedule. Updating the risk register and discussing it with the project stakeholders is also a good practice, but it should come after the risk management plan has been updated. The risk register is a tool for documenting risks and their status, while the risk management plan outlines the strategy for managing those risks.

The first step for the project manager is to validate the information and understand the extent of the delay. Once the information is confirmed, the project manager should update the risk management plan to reflect the new information and its potential impact on the project schedule. This will help the project manager to develop a plan to mitigate the risk and minimize its impact on the project. The project manager may also need to communicate the delay to the project sponsor and other stakeholders and discuss any potential solutions or mitigation strategies. Sourcing second-hand equipment or updating the risk register are potential actions, but they should be evaluated and incorporated into the risk management plan if appropriate.

This is now an issue not a risk. the key is WILL BE DELAYED, not likely to be be delayed but it has be determined that the procurement will of certainty be delayed. So its an issue no longer a risk.