You are the project manager for BlueWell Inc. You have noticed that the risk level in your project increases above the risk tolerance level of your enterprise. You have applied several risk responses. Now you have to update the risk register in accordance to risk response process. All of the following are included in the risk register except for which item?
A . Risk triggers
B . Agreed-upon response strategies
C . Network diagram analysis of critical path activities
D . Risk owners and their responsibility
Answer: C
Explanation:
The risk register does not examine the network diagram and the critical path. There may be risks associated with the activities on the network diagram, but it does not address the network diagram directly.
The risk register is updated at the end of the plan risk response process with the information that was discovered during the process. The response plans are recorded in the risk register. In the risk register, risk is stated in order of priority, i.e., those with the highest potential for threat or opportunity first. Some risks might not require response plans at all, but then too they should be put on a watch list and monitored throughout the project.
Following elements should appear in the risk register:
– List of identified risks, including their descriptions, root causes, and how the risks impact the project objectives
– Risk owners and their responsibility
– Outputs from the Perform Qualitative Analysis process
– Agreed-upon response strategies
– Risk triggers
– Cost and schedule activities needed to implement risk responses
– Contingency plans
– Fallback plans, which are risk response plans that are executed when the initial risk response plan proves to be ineffective
– Contingency reserves
– Residual risk, which is a leftover risk that remains after the risk response strategy has been implemented
– Secondary risks, which are risks that come about as a result of implementing a risk response
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