PMI-RMP Question #503: Real Exam Question with Answer & Explanation

Question

The risk manager of a major project needs to ensure the organizational process assets (OPAsj are updated as a result of risk management activities. How will the risk manager accomplish this?

Options

• AEnsuring that the project sponsor is kept well-informed
• BArranging periodic risk: management process audits
• CCommunicating the status of risks regularly to stakeholders
• DMonitoring costs with intervention when necessary

Explanation

The risk manager can ensure the organizational process assets (OPAs) are updated as a result of risk management activities by arranging periodic risk management process audits. These audits help evaluate the effectiveness of risk management processes and identify areas of improvement, leading to updates in the OPAs. According to the PMBOK Guide, one of the tools and techniques for the monitor risks process is audits. Audits are examinations of the risk management processes to ensure that they are aligned with the project objectives and are following the organizational policies and procedures. Audits can also identify any gaps, inconsistencies, or areas of improvement in the risk management activities. By conducting periodic audits, the risk manager can ensure that the organizational process assets are updated and reflect the current state of the project risk management. Some of the organizational process assets that can be updated as a result of audits are risk management templates, risk categories, risk databases, and lessons learned1.

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