PMI-RMP Certification Training - Risk Management Roles and Responsibilities

The video tutorial discusses various roles in project management, focusing on risk management. It explains the responsibilities of the risk manager, risk owner, and risk action owner, emphasizing the importance of having distinct individuals for each role. The tutorial also covers the risk communications plan and critical success factors like stakeholder acceptance, addressing constraints, and aligning with organizational policies. Reflective questions are provided to encourage deeper understanding of risk management planning.

What is one of the main responsibilities of a risk manager?

• Creating the project budget

• Developing the risk management plan

• Managing the project schedule

• Overseeing team performance

Why is it not advisable for the project manager to be the risk owner for all risks?

• They lack authority to make decisions

• They are not interested in risk management

• They are usually too busy with other responsibilities

• They might not have the necessary skills

What is the primary role of a risk action owner?

• To identify new risks

• To ensure risk responses are executed on time

• To communicate risks to stakeholders

• To approve the risk management plan

How can responsibility and accountability be distinguished in risk management?

• Responsibility is about decision-making, accountability is about execution

• Responsibility is about execution, accountability is about decision-making

• Responsibility is about communication, accountability is about planning

• Responsibility is about planning, accountability is about communication

What is a key component of the risk communications plan?

• Project budget details

• Project timeline

• Stakeholder communication processes

• Team performance metrics

Why is stakeholder acceptance crucial in risk management?

• It ensures project funding

• It guarantees project success

• It fosters understanding and commitment to the process

• It reduces project costs

What should the risk management plan align with to be successful?

• Project timeline

• Organizational policies and culture

• Team preferences

• Market trends