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CGRC · Question #401

Amy is the project manager for her company. In her current project the organization has a very low tolerance for risk events that will affect the project schedule. Management has asked Amy to…

The correct answer is B. She can create an overall project rating scheme to reflect the bias towards risks that affect the. To create a bias against risks that significantly impact the project schedule, Amy should integrate this priority into the project's overall risk assessment and rating framework. This ensures that schedule-affecting risks are given higher importance throughout the risk…

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Question

Amy is the project manager for her company. In her current project the organization has a very low tolerance for risk events that will affect the project schedule. Management has asked Amy to consider the affect of all the risks on the project schedule. What approach can Amy take to create a bias against risks that will affect the schedule of the project? Response:

Options

  • AShe can have the project team pad their time estimates to alleviate delays in the project schedule.
  • BShe can create an overall project rating scheme to reflect the bias towards risks that affect the
  • CShe can filter all risks based on their affect on schedule versus other project objectives.
  • DShe can shift risk-laden activities that affect the project schedule from the critical path as much as

How the community answered

(21 responses)
  • A
    5% (1)
  • B
    71% (15)
  • C
    19% (4)
  • D
    5% (1)

Why each option

To create a bias against risks that significantly impact the project schedule, Amy should integrate this priority into the project's overall risk assessment and rating framework. This ensures that schedule-affecting risks are given higher importance throughout the risk management process.

AShe can have the project team pad their time estimates to alleviate delays in the project schedule.

Padding time estimates is a reactive, often inefficient, and non-transparent method that doesn't proactively manage risk or reflect a strategic bias in risk assessment.

BShe can create an overall project rating scheme to reflect the bias towards risks that affect theCorrect

Creating an overall project rating scheme that explicitly reflects a low tolerance for schedule-affecting risks ensures these risks are weighted more heavily in the risk assessment process. This structured approach helps in identifying, prioritizing, and responding to such risks effectively, aligning with management's directive for a bias against schedule impacts.

CShe can filter all risks based on their affect on schedule versus other project objectives.

Filtering risks only by schedule impact might ignore other significant risks, rather than creating a comprehensive bias within the overall risk management process.

DShe can shift risk-laden activities that affect the project schedule from the critical path as much as

Shifting activities from the critical path might be a response strategy for some risks, but it is not an approach to create a bias against risks in the initial assessment phase, and it may not always be feasible or desirable.

Concept tested: Project risk rating scheme

Topics

#Risk Management#Project Schedule#Risk Assessment#Organizational Tolerance

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