Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements…

The correct answer is C. Project risk is always in the future. By definition, a risk is an uncertain event that has not yet occurred. Once a risk event actually happens, it becomes an issue, not a risk. Therefore, risk is always future-oriented. Saying risk 'can happen at any moment' or 'throughout project execution' conflates risks with…

Risk Strategy and Planning

Question

Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?

Options

AProject risk can happen at any moment.
BProject risk happens throughout the project execution.
CProject risk is always in the future.
DProject risk is uncertain, so no one can predict when the event will happen.

How the community answered

(24 responses)

B
4% (1)
C
92% (22)
D
4% (1)

Explanation

By definition, a risk is an uncertain event that has not yet occurred. Once a risk event actually happens, it becomes an issue, not a risk. Therefore, risk is always future-oriented. Saying risk 'can happen at any moment' or 'throughout project execution' conflates risks with issues. Saying no one can predict when it will happen misses the point - the key characteristic is that risk is always prospective (in the future), which is why risk management is forward-looking planning.

Topics

#Risk definition#Nature of risk#Future uncertainty#Risk vs. Issue

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