You are the project manager of GFT project.
Your project involves the use of electrical motor.
It was stated in its specification that if its temperature would increase to 500 degree Fahrenheit the machine will overheat and have to be shut down for 48 hours.
If the machine overheats even once it will delay the project's arrival date.
So to prevent this you have decided while creating response that if the temperature of the machine reach 450, the machine will be paused for at least an hour so as to normalize its temperature.
This temperature of 450 degrees is referred to as?
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A. B. C. D.B.
A risk trigger is a warning sign or condition that a risk event is about to happen.
Here the warning temperature is 450 degrees Fahrenheit, therefore it is referred as risk trigger.
Incorrect Answers: A: Risk identification is the process of the identifying the risks.
This process identifies the risk events that could affect the project adversely or would act as opportunity.
C: Here risk event is 500-degree temperature, as when machine reaches this temperature it should have to be shut-down for 48 hours, which in turn will laid a great impact on the working of project.
D: Risk response here is shutting off of machine when its temperature reaches 450 degree Fahrenheit, so as to prevent the occurring of risk event.
The correct answer is B. Risk trigger.
In risk management, a risk trigger is an early warning sign that indicates a potential risk event may occur. It is a specific condition or situation that, when it occurs, triggers a risk response plan to be executed. In this scenario, the risk trigger is the temperature of the electrical motor reaching 450 degrees Fahrenheit.
The risk event, on the other hand, is the actual occurrence of the motor overheating to 500 degrees Fahrenheit and having to be shut down for 48 hours, which would cause a delay in the project's arrival date.
Risk identification is the process of identifying, analyzing, and evaluating risks. It involves identifying potential risks that may affect the project and assessing the likelihood and impact of each risk.
Risk response is the process of developing and implementing actions to address identified risks. In this scenario, the risk response plan is to pause the machine for at least an hour to normalize its temperature once the risk trigger of 450 degrees Fahrenheit is reached.
In summary, the temperature of 450 degrees Fahrenheit is the risk trigger in this scenario, which triggers the risk response plan of pausing the machine to prevent the risk event of the machine overheating and causing a delay in the project's arrival date.