PMI CAPM (Certified Associate in Project Management) Examination Content OutlineRisk Management and ComplianceMedium
During a project's execution phase, a risk event occurs that was not identified in the initial risk register. The project manager needs to address this new risk. Which of the following is the MOST appropriate initial step?
- AIgnore the risk if its impact seems minor.
- BInform stakeholders that the project will be delayed.
- CImmediately implement a pre-defined contingency plan.
- DUpdate the risk register with the new risk and its characteristics.
Show answer & explanationAnswer & explanation
Correct answer: D. Update the risk register with the new risk and its characteristics.
When an unidentified risk occurs, the first appropriate step is to document it in the risk register, including its characteristics, before further analysis and response planning.
Why the other options are wrong
- A. Ignoring any risk, regardless of perceived impact, is poor risk management practice.
- B. Informing stakeholders about delays without proper analysis is premature and unprofessional.
- C. A contingency plan is for identified risks; this risk was not identified, so no plan exists yet.
Unidentified Risk Response
When a risk event occurs that was not previously identified, the first step is to formally document it in the risk register and then proceed with analysis and response planning as if it were a newly identified risk.
- Documenting is the first step.
- Treat it as a 'new' risk.
- Requires subsequent analysis and response.
Memory trick: New risk appears? Document it, then analyze and react!