Plan Risk Management

C.

There is only one tool and technique available for Fred to plan risk management: planning meetings and analysis.

Planning Meeting and Analysis is a tool and technique in the Plan Risk Management process.

Planning meetings are organized by the project teams to develop the risk management plan.

Attendees at these meetings include the following: -> Project manager -> Selected project team members -> Stakeholders -> Anybody in the organization with the task to manage risk planning Sophisticated plans for conducting the risk management activities are defined in these meetings, responsibilities related to risk management are assigned, and risk contingency reserve application approaches are established and reviewed.

Incorrect Answers: A, B, D: These are not plan risk management tools and techniques.

The correct answer is C. Planning meetings and analysis.

The Plan Risk Management process is the first process in the Risk Management Knowledge Area. Its purpose is to define how to conduct risk management activities for a project. The output of this process is the Risk Management Plan.

In order to create a comprehensive Risk Management Plan, Fred needs to engage the project team and key stakeholders in the planning process. Planning meetings are an effective tool for gathering input from team members and stakeholders. During these meetings, participants can share their knowledge and experience to identify potential risks, analyze their potential impact, and develop strategies for managing them.

In addition to planning meetings, Fred can use various analysis techniques to aid in the development of the Risk Management Plan. These techniques include:

• Expert judgment: involving subject matter experts to provide insight and recommendations on risk management planning.
• Data gathering and representation techniques: such as brainstorming, Delphi technique, root cause analysis, and SWOT analysis.
• Interpersonal and team skills: including conflict management, negotiation, and facilitation.
• Risk management templates and checklists: providing a framework for identifying and assessing risks, and for developing risk response strategies.

Information gathering techniques and variance and trend analysis are not relevant to the Plan Risk Management process as they do not contribute to the creation of the Risk Management Plan.

Therefore, the best answer is C. Planning meetings and analysis.