What items should be included in a complex project's risk management plan?

Question

Options

• ARisk management methodology, scope statement, and thresholds and corresponding definitions.
• BRisk management methodology, risk management organization, and thresholds and
• CRisk management organization, templates, and milestone plan
• DRisk management organization, risk communication plan, and milestone plan

• A
  4% (1)
• B
  87% (20)
• D
  9% (2)

Explanation

A comprehensive risk management plan for a complex project must address the methodology (how risk management will be performed, what tools and data sources will be used), the risk management organization (roles and responsibilities of team members involved in risk activities), and thresholds with corresponding definitions (the agreed-upon levels at which risks require escalation or response, and how terms like 'high,' 'medium,' and 'low' are quantitatively defined). Option A is incorrect because the scope statement belongs to the project scope management plan, not the risk management plan. Options C and D reference a milestone plan, which is part of the schedule, not the risk management plan. The risk management plan is a subsidiary plan that defines HOW risk activities will be conducted.

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