Kelly is the project manager of the NNQ Project for her company.
This project will last for one year and has a budget of $350,000
Kelly is working with her project team and subject matter experts to begin the risk response planning process.
What are the two inputs that Kelly would need to begin the plan risk response process?
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A. B. C. D.D.
The only two inputs for the risk response planning are the risk register and the risk management plan.
The plan risk response project management process aims to reduce the threats to the project objectives and to increase opportunities.
It follows the perform qualitative risk analysis process and perform quantitative risk analysis process.
Plan risk response process includes the risk response owner to take the job for each agreed-to and funded risk response.
This process addresses the risks by their priorities, schedules the project management plan as required, and inserts resources and activities into the budget.
The inputs to the plan risk response process are as follows: -> Risk register -> Risk management plan Incorrect Answers: B: Kelly will not need the risk response plan until monitoring and controlling the project.
C: The results of risk analysis will help Kelly prioritize the risks, but this information will be recorded in the risk register.
D: Kelly needs the risk register and the risk management plan as the input.
The power to assign risk responses is not necessarily needed by Kelly.
The correct answer is A. Risk register and the results of risk analysis.
The Plan Risk Response process is the process of developing options and actions to enhance opportunities and reduce threats to project objectives. The goal of the Plan Risk Response process is to determine how to approach and plan risk management activities for a project.
The first input required for the Plan Risk Response process is the Risk Register. The Risk Register contains all the information about identified risks, such as the risk description, likelihood, impact, risk owner, and current status. The Risk Register is updated throughout the project as new risks are identified, and existing risks change.
The second input required for the Plan Risk Response process is the Results of Risk Analysis. This includes the output of the Qualitative Risk Analysis and Quantitative Risk Analysis. Qualitative Risk Analysis is used to prioritize risks based on their probability and impact on project objectives. Quantitative Risk Analysis is used to numerically analyze the probability and impact of risks.
By having the Risk Register and the Results of Risk Analysis, Kelly can work with her project team and subject matter experts to develop appropriate risk response strategies. The risk response strategies can include avoiding the risk, transferring the risk, mitigating the risk, or accepting the risk. These strategies can be selected based on the priority of the risk, the potential impact of the risk, and the resources available to the project.