A risk manager is managing risks in a project. During the initial stages of project execution, a new risk is identified. There is a very small chance that this risk will occur and even if it occurs, t

The correct answer is A. Put the risk on the watch list.. A risk with both low probability and low impact does not warrant immediate action, significant resources, or escalation to stakeholders-but it should not be ignored entirely. The correct practice is to place it on a watch list. A watch list is used to document low-priority risks

Risk Monitoring and Reporting

Question

A risk manager is managing risks in a project. During the initial stages of project execution, a new risk is identified. There is a very small chance that this risk will occur and even if it occurs, the impact would be low. What should the risk manager do with this risk?

Options

APut the risk on the watch list.
BSeek guidance from subject matter experts (SMEs).
CIgnore this risk as it is not critical.
DInform the stakeholders about this risk.

How the community answered

(27 responses)

A
93% (25)
B
4% (1)
C
4% (1)

Explanation

A risk with both low probability and low impact does not warrant immediate action, significant resources, or escalation to stakeholders-but it should not be ignored entirely. The correct practice is to place it on a watch list. A watch list is used to document low-priority risks so they can be monitored throughout the project lifecycle. If conditions change and the risk's probability or impact increases, it can be elevated to active risk response planning. Ignoring it entirely (C) is inappropriate because risk conditions can change.

Topics

#Risk identification#Qualitative risk analysis#Watch list#Risk monitoring

Community Discussion

No community discussion yet for this question.

Full PMI-RMP Practice