PMI CAPM (Certified Associate in Project Management) Examination Content OutlinePredictive, Plan-Based MethodologiesMedium
A project manager is leading a software development project. The team has identified a high-priority risk related to a critical third-party API integration, which could cause significant delays if it fails. The project manager decides to develop a workaround plan for this specific risk, to be implemented only if the primary integration method proves unsuccessful. Which risk response strategy is being employed?
- AAccept
- BContingency Planning
- CMitigate
- DAvoid
Show answer & explanationAnswer & explanation
Correct answer: B. Contingency Planning
Developing a workaround plan to be implemented only if a specific risk event occurs is a form of contingency planning. This strategy involves preparing predefined actions to take if a risk becomes a reality.
Why the other options are wrong
- A. Acceptance involves no proactive action, whereas a workaround plan is a proactive preparation.
- C. Mitigation reduces the probability or impact of a risk, but a workaround for a failed primary approach is a specific response, not a general reduction.
- D. Avoidance eliminates the risk entirely, which is not the case here as the primary integration is still planned.
Contingency Planning
A risk response strategy that involves developing a plan for what to do if a specific risk event occurs. It's a proactive approach to address risks that are not avoided or fully mitigated.
- Prepares for potential risk realization.
- Often includes fallback plans or workarounds.
- Distinct from general mitigation, as it's a 'what if' scenario plan.
Memory trick: Avoid, Transfer, Mitigate, Accept, and Plan for Contingencies.