A newly assigned project manager is reviewing the project documents with stakeholders to identify opportunities that will fast track the project and realize the financial benefits of early completion.

The correct answer is C. Risk management plan. The risk management plan defines the overall strategy, methodology, roles, and approach for managing risks and opportunities throughout the project. When a review with stakeholders reveals new categories of opportunities (such as fast-tracking strategies), the risk management pla

Risk Strategy and Planning

Question

A newly assigned project manager is reviewing the project documents with stakeholders to identify opportunities that will fast track the project and realize the financial benefits of early completion. What document should be updated at the end of the review?

Options

ARisk register
BRisk response plan
CRisk management plan
DRisk identification plan

How the community answered

(69 responses)

A
4% (3)
B
12% (8)
C
81% (56)
D
3% (2)

Explanation

The risk management plan defines the overall strategy, methodology, roles, and approach for managing risks and opportunities throughout the project. When a review with stakeholders reveals new categories of opportunities (such as fast-tracking strategies), the risk management plan should be updated to incorporate these new opportunity-focused objectives and approaches. The risk register (A) records individual identified risks/opportunities but is updated after the plan sets the framework. The risk response plan (B) and risk identification plan (D) are either components of the risk management plan or not standard standalone documents in most frameworks.

Topics

#Risk Management Plan Update#Opportunity Identification#Project Fast-tracking#Stakeholder Engagement

Community Discussion

No community discussion yet for this question.

Full PMI-RMP Practice