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PK0-003 · Question #343

A draft structure for a risk trackingsheet has been provided below: 1.Risk identifier 2.Risk status 3.Risk description 4.Mitigation steps 5.Mitigation status Which of the following should be ADDED to

The correct answer is A. Risk rating. A risk tracking sheet requires a risk rating to effectively prioritize risks based on their potential impact and likelihood, guiding mitigation efforts.

Project management concepts

Question

A draft structure for a risk trackingsheet has been provided below:

1.Risk identifier 2.Risk status 3.Risk description 4.Mitigation steps 5.Mitigation status Which of the following should be ADDED to the risk tracking sheet?

Options

  • ARisk rating
  • BStakeholder risk tolerance
  • CRevised project schedule
  • DRisk matrix

How the community answered

(58 responses)
  • A
    78% (45)
  • B
    3% (2)
  • C
    7% (4)
  • D
    12% (7)

Why each option

A risk tracking sheet requires a risk rating to effectively prioritize risks based on their potential impact and likelihood, guiding mitigation efforts.

ARisk ratingCorrect

A risk rating, typically derived from assessing the likelihood and impact of a risk, is crucial for prioritizing risks on a tracking sheet. This rating allows project managers to understand the severity of each risk, allocate appropriate resources, and focus mitigation efforts on the most critical threats to the project.

BStakeholder risk tolerance

Stakeholder risk tolerance refers to a broader organizational or individual appetite for risk and is not a specific field for tracking individual risks on a risk register.

CRevised project schedule

A revised project schedule might be an outcome of risk mitigation, but it is not a fundamental component to be tracked within the risk tracking sheet itself.

DRisk matrix

A risk matrix is a separate tool used to visualize and categorize risks by likelihood and impact, which helps in assigning risk ratings, but it is not a field to be added directly to a tracking sheet.

Concept tested: Risk register components

Topics

#Risk management#Risk register#Risk assessment#Project documentation

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