You work as a Project Manager for Company Inc.
You have to conduct the risk management activities for a project.
Which of the following inputs will you use in the plan risk management process? Each correct answer represents a complete solution.
(Choose three.)
Click on the arrows to vote for the correct answer
A. B. C. D.BCD.
The inputs to the plan risk management process are as follows: -> Project scope statement: It provides a clear sense of the range of possibilities associated with the project and establishes the framework for how significant the risk management effort may become.
-> Cost management plan: It describes how risk budgets, contingencies, and management reserves will be reported and accessed.
-> Schedule management plan: It describes how the schedule contingencies will be reported and assessed.
-> Communication management plan: It describes the interactions, which occurs on the project and determines who will be available to share information on various risks and responses at different times.
-> Enterprise environmental factors: It include, but are not limited to, risk attitudes and tolerances that describe the degree of risk that an organization withstand.
-> Organizational process assets: It includes, but are not limited to, risk categories, risk statement formats, standard templates, roles and responsibilities, authority levels for decision-making, lessons learned, and stakeholder registers.
Incorrect Answers: A: It is not an input for Plan risk management process.
As a project manager, the risk management process is a crucial part of ensuring the success of your project. Plan Risk Management is the first process in the Risk Management Knowledge Area of the Project Management Body of Knowledge (PMBOK) guide. In this process, you will develop a plan for managing risks throughout the project. The inputs that you will use in the Plan Risk Management process are:
A. Quality management plan: The quality management plan outlines the quality standards that the project must meet. The plan describes the quality control and quality assurance activities that will be used to ensure that the project deliverables meet these standards. The quality management plan is an important input to the Plan Risk Management process because it identifies the quality risks that may impact the project.
B. Schedule management plan: The schedule management plan describes how the project schedule will be developed, monitored, and controlled. The plan includes information on the scheduling tools and techniques that will be used, as well as the roles and responsibilities of the project team members. The schedule management plan is important in the Plan Risk Management process because it identifies scheduling risks that may impact the project.
C. Cost management plan: The cost management plan outlines how the project budget will be developed, monitored, and controlled. It includes information on the cost estimating techniques that will be used, as well as the roles and responsibilities of the project team members. The cost management plan is important in the Plan Risk Management process because it identifies cost risks that may impact the project.
D. Project scope statement: The project scope statement describes the project deliverables, objectives, and requirements. It includes a description of the work that will be done, the stakeholders involved, and the acceptance criteria for the project. The project scope statement is an important input to the Plan Risk Management process because it identifies the scope risks that may impact the project.
Therefore, the correct answers are A, B, and C. The Quality management plan, Schedule management plan, and Cost management plan are essential inputs that help in identifying and managing risks throughout the project.