PMI-RMP Question #473: Real Exam Question with Answer & Explanation

Question

An organization performs an annual strategies and initiatives workshop during which a strengths, weaknesses, opportunities, and threats (SWOT) analysis is being conducted. As part of this process the functional managers identify the opportunities and threats. What should the risk manager do next?

Options

• AAdd only the threats to the risk register
• BUtilize different tools to identify the risks
• CPlan risk responses to the threats
• DUpdate the risk register with the identified risks

Explanation

The risk manager should update the risk register with both the opportunities and threats identified during the SWOT analysis. This will help in tracking and managing all potential risks throughout the project lifecycle. Update the risk register with the identified risks Comprehensive and Detailed Explanation: one of the tasks in the domain of Risk Identification is to update the risk register with identified risks, causes, categories, and potential responses. A risk register is a document used to track and report on project risks and opportunities throughout the project's life cycle. In this scenario, the risk manager should update the risk register with the identified risks, both opportunities and threats, that result from the SWOT analysis. The risk manager should also include the causes, categories, and potential responses for each risk, as well as other relevant information such as probability, impact, priority, owner, etc. The risk manager should not add only the threats to the risk register, because opportunities are also a type of risk that can have a positive effect on the project objectives and should be recorded and managed accordingly. The risk manager should not utilize different tools to identify the risks, because the SWOT analysis is a valid and useful tool for risk identification and there is no indication that it was insufficient or inappropriate for the project context. The risk manager should not plan risk responses to the threats, because that is a separate process that comes after risk identification and requires further analysis and evaluation

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