A supply chain manager mentioned that the required materials for your portfolio might be out of stock next month due to coronavirus. What should you do next?

The correct answer is C. Record the risk in a risk register. The key word here is 'might' - this is a potential future event, which qualifies it as a risk, not yet an issue. The first and most important next step upon identifying a risk is to formally record it in the risk register. This ensures the risk is documented, tracked, and can the

Portfolio Risk Management

Question

Options

AAnalyze the impact on the portfolio
BContact new vendors to provide materials
CRecord the risk in a risk register
DMention the risk in risk reports

How the community answered

(35 responses)

B
3% (1)
C
91% (32)
D
6% (2)

Explanation

The key word here is 'might' - this is a potential future event, which qualifies it as a risk, not yet an issue. The first and most important next step upon identifying a risk is to formally record it in the risk register. This ensures the risk is documented, tracked, and can then be analyzed and responded to. Analyzing impact, contacting vendors, and reporting are all subsequent steps that follow after the risk is formally registered.

Topics

#Portfolio Risk Management#Risk Identification#Risk Register

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