PMI-RMP Certification Training - Plan Risk Management - Output

The video tutorial covers the components of a risk management plan, including risk strategy, roles, budgeting, and timing. It explains the probability and impact matrix, stakeholders' risk appetite, and formats for reporting and tracking risks. The tutorial also discusses methods for assessing risks, emphasizing the importance of upfront planning for successful project execution.

What are the key components of a risk management plan introduced in the first section?

• Stakeholder communication plan

• Project timeline and milestones

• Risk strategy, methodology, roles, and responsibilities

• Quality assurance processes

How does the probability and impact matrix differ between projects?

• It is the same for all projects

• It varies based on project risk tolerance

• It changes according to the project manager's preference

• It is determined by the project budget

Whose risk appetite should be defined in the risk management plan?

• Team members'

• Clients'

• Stakeholders'

• Project manager's

What is included in the reporting and tracking formats for risk management?

• Client feedback forms

• Team performance metrics

• Risk register

• Project budget

What is the importance of upfront planning in risk management?

• It ensures project completion on time

• It helps in better execution and success

• It reduces the project cost

• It eliminates the need for risk assessment