Responsibilities of a Risk Owner

C.

A risk owner is an individual, team, or department responsible for managing a specific risk on a project. Their responsibilities can vary depending on the project, but generally, a risk owner is responsible for identifying, assessing, monitoring, and controlling a specific risk throughout the project life cycle.

Let's go through each of the answer options to determine which one is a responsibility of a risk owner:

A. Identify risks to the project that might occur in their department This option is a responsibility of the risk owner. The risk owner should identify risks that might occur in their department and report them to the project manager or risk management team for further analysis and action.

B. Own and authorize the use of the risk budget to fund risk responses This option is not a responsibility of the risk owner. The risk budget is typically managed by the project manager or the risk management team.

C. Manage, monitor and control all aspects of an assigned risk This option is a responsibility of the risk owner. The risk owner should manage, monitor, and control all aspects of an assigned risk to ensure that appropriate actions are taken to mitigate or avoid the risk.

D. Determine project risk appetite. This option is not a responsibility of the risk owner. The project risk appetite is typically determined by the project sponsor or senior management.

In conclusion, options A and C are responsibilities of the risk owner, while options B and D are not.