PMI-RMP Certification Training - Case Study 3

Mary, the project manager, collaborates with stakeholders to identify project risks and opportunities. She is advised to identify root causes of risks, as one cause may lead to multiple risks. Grouping risks by root causes aids in planning. Mary should conduct qualitative risk analysis with experts to assess probability and impact, using a risk management plan. Risks are prioritized based on a probability-impact matrix, with low priority risks monitored. High priority risks may undergo quantitative analysis.

What is the main challenge Mary faces after identifying threats and opportunities?

• Hiring new team members

• Ensuring focus on the right risks

• Deciding on the project budget

• Communicating with stakeholders

Why is it important for Mary to identify the root causes of risks?

• To find a single solution for all risks

• To group risks and plan actions effectively

• To increase the project budget

• To eliminate all risks immediately

How can Mary categorize risks effectively?

• By root causes or key categories

• By stakeholder involvement

• By team member preferences

• By project phase

What method should Mary use to assess the probability and impact of each risk?

• Technical risk analysis

• Financial risk analysis

• Qualitative risk analysis

• Quantitative risk analysis

What happens to low-priority risks in Mary's risk management process?

• They are ignored completely

• They are resolved immediately

• They are escalated to high priority

• They are put on a watch list