A project manager is educating the project team on risk management regarding the role of threats and opportunities. The team decides to log the opportunities in the current project's risk register to

Question

Options

• AConduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
• BLog the threats in the risk register to try to minimize the probability of occurrence.
• CLog the threats in the risk register to try to maximize the probability of occurrence.
• DUpdate the project management plan to ensure the results of the opportunities are captured.

• A
  8% (2)
• B
  17% (4)
• C
  4% (1)
• D
  71% (17)

Explanation

According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, the project management plan is the document that describes how the project will be executed, monitored, and controlled. It integrates and consolidates all the subsidiary plans and baselines from the project management processes. The project management plan should be updated whenever there are changes in the project scope, schedule, cost, quality, resources, communications, risks, procurements, or stakeholder engagement. In this case, the project team has decided to log the opportunities in the current project's risk register, which is a component of the project management plan. Opportunities are positive risks that may have a beneficial effect on the project objectives, such as cost savings, schedule acceleration, or quality improvement. Therefore, the project team should update the project management plan to ensure the results of the opportunities are captured and reflected in the relevant subsidiary plans and baselines. For example, if an opportunity leads to a cost saving, the project team should update the cost management plan and the cost baseline accordingly.

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