You are a project manager for your organization and you're working with four of your key stakeholders.
One of the stakeholders is confused as to why you're not discussing the current problem in the project during the risk identification meeting.
Which one of the following statements best addresses when a project risk actually happens?
Click on the arrows to vote for the correct answer
A. B. C. D.C.
According to the PMBOK, a project risk is always in the future.
If the risk event has already happened, then it is an issue, not a risk.
Incorrect Answers: A: You can identify risks before they occur and not after their occurrence.
B: Risks can only happen in the future.
D: Triggers are warning signs and conditions of risk events, but this answer isn't the best choice for this question.
When it comes to project management, risks are events or situations that have the potential to impact project objectives, whether positively or negatively. Risk identification is a critical process in project management, where potential risks are identified, assessed, and prioritized to develop appropriate response plans.
The stakeholder's confusion regarding the absence of discussion on the current problem during the risk identification meeting can be addressed by understanding the nature of project risks. Therefore, the best statement that addresses when a project risk actually happens is:
B. Risks can happen at any time in the project.
This statement emphasizes that risks are not restricted to a particular stage of the project or to the future. Risks can happen at any time during the project, whether in the past, present, or future. Thus, it is essential to identify and manage risks continuously throughout the project life cycle, not just during the risk identification meeting.
Option A, "Project risks are uncertain as to when they will happen," is partially correct, but it doesn't provide a clear understanding of the nature of project risks. While risks are uncertain, they can still happen at any time during the project.
Option C, "Project risks are always in the future," is incorrect as risks are not only limited to the future. They can occur anytime during the project.
Option D, "Risk triggers are warning signs of when the risks will happen," is also partially correct, but it doesn't cover the full nature of project risks. Risk triggers are indicators that suggest the likelihood of a particular risk occurring, but it does not necessarily mean the risk will occur. Moreover, risks can happen even without any apparent triggers.
In summary, project risks are not limited to a particular stage or the future. Risks can happen anytime during the project, which emphasizes the need for continuous risk identification and management throughout the project's life cycle.