PMI-RMP Certification Training - Residual and Secondary Risk, and Risk Register Updates

The video tutorial covers the concept of residual risk, which persists even after implementing risk response actions. It emphasizes the importance of assessing whether residual risk exceeds risk tolerance and suggests adding contingencies to manage these risks. The tutorial also highlights the need for updating the risk register with detailed information on risk responses, strategies, and any secondary risks that may arise. It stresses the importance of assigning team members to specific risks and updating the register with response actions, warning signs, and contingency plans.

What should be done if residual risk is above the risk tolerance level?

• Enact another risk response strategy

• Increase the risk tolerance level

• Ignore the risk and proceed with the project

• Cancel the project

What is a recommended action if a threat risk remains above tolerance after a response?

• Reduce the project's scope

• Increase the project's budget

• Provide a contingency plan

• Ignore the risk

Why is it important to update the risk register after developing risk response plans?

• To ensure all team members are aware of the project timeline

• To increase the project's budget

• To finalize the project scope

• To document detailed information about responses and strategies

What are secondary risks?

• Risks that are eliminated after implementing a strategy

• Risks that arise from implementing a risk response strategy

• Risks that are ignored during the planning phase

• Risks that have no impact on the project

What should be included in the risk register update regarding secondary risks?

• The project's completion date

• Newly identified risks and responsible team members

• The project's financial details

• Only the names of the team members