CGRC · Question #678
CGRC Question #678: Real Exam Question with Answer & Explanation
The correct answer is B: These risks can be added to a low priority risk watch list. When project risks are identified as small and unlikely to significantly impact the project, the appropriate action is to add them to a low priority risk watch list for ongoing monitoring. This approach tracks minor risks without requiring immediate, extensive response planning.
Question
You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events? Response:
Options
- AThese risks can be accepted
- BThese risks can be added to a low priority risk watch list
- CAll risks must have a valid, documented risk response
- DThese risks can be dismissed
Explanation
When project risks are identified as small and unlikely to significantly impact the project, the appropriate action is to add them to a low priority risk watch list for ongoing monitoring. This approach tracks minor risks without requiring immediate, extensive response planning.
Common mistakes.
- A. While accepting risk is a valid strategy, simply accepting and forgetting about small risks without any form of tracking could lead to an accumulation of minor issues that eventually become significant.
- C. Requiring a detailed, documented risk response for every single minor risk event would be overly burdensome and resource-intensive for a project.
- D. Dismissing risks outright means losing all visibility and control over them, which can be problematic if their likelihood or impact increases over time.
Concept tested. Project risk management- low priority risks
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