91- You are the project manager of WZX Project. You identified all the risk in your project and assign
contingency reserve but all missing intermediate milestones as triggers conditions are not identified.
what you should do to handle this in future?
A- You should increase the frequency of risk review Meeting.
B- Risk Reassessment .
C- Risk audit.
D- Change request. Saving Changes...
Drake SettsuProject Manager / BloggerHi, United States
I would do a C. Saving Changes...
Vithal ParabAssociate Consultant| Tata Consultancy ServicesMumbai, Maharashtra, India
Looks like, one have to do Risk Reassessment. Saving Changes...
Mansoor MustafaSenior PM| Government DepartmentRawalpindi Punjab, Pakistan
Risk reasseement is best answer from my point of view and it is in domain of PM, whereas Risk audit is done by party out the project team to see the effectiveness of risk management process Saving Changes...
MICHAIL KOSTOUROSSENIOR PROJECT MANAGER, MSc,PMP,RMP,MCP,CIVIL ENGINEER| TECHNIKI 2000 S.A.Chalkida, Greece
I believe the key phrase is: in the future, so it means in order not to repeat the same mistake missing risk triggers of the identified risks, in the risk register, in future projects. So risk audit can only assess the effectiveness of the risk management process at the current project.
My opinion is that the right answer is C Saving Changes...
Anish AbrahamPrivacy Program Manager| University of WashingtonAuburn, Wa, United States
I would go with C, since risk audit will identify the missing intermediate milestones. Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
I agree with Vincent. The purpose of an audit is to identify problems, not to fix them.
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1 reply by MICHAIL KOSTOUROS
Dec 11, 2017 1:08 PM
MICHAIL KOSTOUROS
...
Why with risk reassessment you can fix them. I believe the question is 'what you should do to handle this in future? ' please help me understand this.Thank you.
Saving Changes...
MICHAIL KOSTOUROSSENIOR PROJECT MANAGER, MSc,PMP,RMP,MCP,CIVIL ENGINEER| TECHNIKI 2000 S.A.Chalkida, Greece
Dec 11, 2017 11:11 AM
Replying to Stéphane Parent
...
I agree with Vincent. The purpose of an audit is to identify problems, not to fix them.
Why with risk reassessment you can fix them. I believe the question is 'what you should do to handle this in future? ' please help me understand this.Thank you. Saving Changes...
Abhinav SaxenaSr. Project Control Specialist| Honeywell International MiddleEastRampur, Uttar Pradesh, India
Nov 05, 2017 5:31 PM
Replying to Vincent Guerard
...
I would go with B, you are the project manager.
Risk audit (C), will reveal that the project manager did not make the full risk management. In some respect the audit was done by you the project manager the question is base on the result!
If all missing intermediate milestones as trigger conditions are not identified, it means either the process is not clear to the team and formats / templates are not developed well.
If one chooses, risk assessment, the same mistake is likely to happen, as it will have new risks, reassessment of current risks, and closing of risks that are outdated.
If one chooses, risk audit, all the short findings in the process will be on the table.
I think Answer C would be the best choice.
Vincent, even if one is PM, and Risk audit reveals where the process to be improved, PM should opt Risk audit.
Considering PMs role in this process if very critical and important and the Tigger conditions are missed, it would be great that Expert do the Risk Audit. Saving Changes...
Considering you state "what you should do to handle this in future?", I assume you mean that you wish to learn and apply this to future projects. In that case, C. If as part of C, you undertake a risk assessment based on what actually happened to prove it would have helped the project, I suppose C and B (with C first). Saving Changes...
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