PMP Practice Questions #63
A fellow project manager, Emily, seeks advice on managing a potential risk in her project that might cause a 10-day delay. She’s uncertain whether to mitigate or accept this risk. As an experienced project manager, how would you advise Emily?
A) Mitigate any risk that could cause a delay, regardless of its duration.
B) Accept the risk since a 10-day delay is typically manageable.
C) Encourage Emily to align her Risk Management Plan with stakeholder expectations to determine the best response.
D) Base the decision solely on personal intuition and past experiences.
Analysis:
Emily, a fellow project manager, is facing a potential risk in her project that could result in a 10-day delay. She is unsure whether to mitigate this risk or accept it. The key question here revolves around the significance of a 10-day delay in the context of her project and how to approach decision-making regarding risk management.
Analysis of Options:
Option A: Mitigate Any Risk That Could Cause a Delay, Regardless of Its Duration. This option suggests a blanket approach to risk management, advocating for mitigation of any risk that could cause a delay. However, this approach does not consider the specific context of the project, such as the overall project duration or the impact of the delay relative to the project’s objectives. Risk management decisions should be tailored to the specific circumstances of the project.
Option B: Accept the Risk Since a 10-Day Delay is Typically Manageable. Accepting the risk based on the assumption that a 10-day delay is typically manageable may not be the best approach. The decision to accept or mitigate a risk should be based on a thorough understanding of the project’s specific context, stakeholder expectations, and the overall impact on project objectives.
Option C: Encourage Emily to Align Her Risk Management Plan with Stakeholder Expectations to Determine the Best Response. It encourages a thoughtful, structured approach to risk decision-making, taking into account the project’s unique context, stakeholder thresholds for risk, and the agreed-upon risk management strategies. This option is the most comprehensive and strategic.
Option D: Base the Decision Solely on Personal Intuition and Past Experiences. Relying solely on personal intuition and past experiences to make risk management decisions is not advisable. While experience and intuition are valuable, they should be complemented with a structured approach to risk management that includes stakeholder input and alignment with the project’s risk management plan.
Conclusion: The most appropriate advice for Emily is to align her risk management decisions with her project’s risk management plan and stakeholder expectations, as outlined in Option C. This approach ensures that decisions are made based on a comprehensive understanding of the project’s context and stakeholder needs. It allows for a more tailored and effective response to the specific risk at hand. Options A and B offer blanket approaches that may not suit the specific context of Emily’s project, while Option D overlooks the importance of a structured and stakeholder-informed risk management process.
PMP Exam Content Outline Mapping
| Domain | Task |
|---|---|
| Process | Task 3: Assess and manage risks |
Topics Covered
- Risk Management Plan
- Risk Tolerance and Thresholds
- Probability and Impact Matrix
