Documenting Risk Responses and Current Status of Identified Risks
Question
You are the project manager of the HJK Project for your organization.
You and the project team have created risk responses for many of the risk events in the project.
Where should you document the proposed responses and the current status of all identified risks?
Answers
Explanations
Click on the arrows to vote for the correct answer
A. B. C. D.C.
Risks and the corresponding responses are documented in the risk register for the project.
Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning.
Description, category, cause, probability of occurring, impact on objectives, proposed responses, owner, and the current status of all identified risks are put in the risk register.
Incorrect Answers: A: The stakeholder management strategy defines how stakeholders and their threats, perceived threats, opinions, and influence over the project objectives will be addressed and managed.
B: The outcome of risk events and the corresponding risk responses may be documented in the project's lessons learned documented, but the best answer is to document the risk responses as part of the risk register.
D: The risk management plan defines how risks will be identified and analyzed, the available responses, and the monitoring and controlling of the risk events.
The actual risk responses are included in the risk register.
The correct answer is C. Risk Register.
The Risk Register is a document that contains all the information related to risks identified in the project, including their likelihood, impact, and proposed responses. It is a living document that is updated throughout the project lifecycle as new risks are identified or as the status of existing risks changes.
The risk responses that have been proposed for the identified risks should be documented in the Risk Register. This allows the project manager and the project team to track the status of the risks and the effectiveness of the responses that have been implemented. It also enables the team to monitor the overall risk exposure of the project and make informed decisions about risk management.
Option A, Stakeholder management strategy, is a document that outlines how the project team plans to engage with stakeholders throughout the project. While stakeholder management is an important aspect of project management, it does not directly relate to risk responses.
Option B, Lessons learned documentation, is a document that is compiled at the end of the project and contains information about what worked well and what did not work well during the project. While lessons learned can inform future risk management activities, it is not the appropriate place to document proposed risk responses and the current status of identified risks.
Option D, Risk management plan, is a document that outlines how risk management activities will be conducted throughout the project lifecycle. While it may contain information about risk responses, it is not the appropriate place to document the current status of identified risks. The Risk Register is the appropriate document for this purpose.
