A stakeholder is asked to approve additional funding to implement a risk response plan. However, the stakeholder is unsure of the amount that could be approved without escalation. Where should the…

The correct answer is B. Risk management plan. The risk management plan defines the governance structure for risk management, including roles, responsibilities, and authority levels-specifically, the delegation of financial authority for approving risk response expenditures and the thresholds above which escalation is…

Risk Strategy and Planning

Question

A stakeholder is asked to approve additional funding to implement a risk response plan. However, the stakeholder is unsure of the amount that could be approved without escalation. Where should the stakeholder look to determine the amount that can be approved?

Options

AProject charter
BRisk management plan
CRisk register
DOrganizational process assets

How the community answered

(27 responses)

B
89% (24)
C
7% (2)
D
4% (1)

Explanation

The risk management plan defines the governance structure for risk management, including roles, responsibilities, and authority levels-specifically, the delegation of financial authority for approving risk response expenditures and the thresholds above which escalation is required. This is the single authoritative document that establishes who can approve what amount without escalating. The project charter (A) establishes high-level authority but does not typically detail risk-specific funding approval thresholds. The risk register (C) documents individual risks and responses but not approval authority. Organizational process assets (D) provide general corporate policies but the project-specific threshold is in the risk management plan.

Topics

#Risk Management Plan#Approval Authority#Risk Response Funding#Project Governance

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