You are the project manager of the GGG project.
You have completed the risk identification process for the initial phases of your project.
As you begin to document the risk events in the risk register what additional information can you associate with the identified risk events?
Click on the arrows to vote for the correct answer
A. B. C. D.B.
As the project manager of the GGG project, once the risk identification process is complete, you need to document the identified risks in the risk register. The risk register is a document that contains all the information related to risks identified for the project. In addition to the risk event itself, the following additional information can be associated with the identified risk events:
A. Risk schedule: The risk schedule refers to the timeline or schedule of the risk event, i.e., when the risk event is likely to occur. Knowing the risk schedule helps the project team to plan and prepare for the risk event in advance.
B. Risk potential responses: This information includes a list of potential responses that can be taken if the risk event occurs. For each identified risk, it's essential to identify potential responses to mitigate or manage the risk. These responses may include risk avoidance, risk transfer, risk reduction, or risk acceptance.
C. Risk cost: Risk cost refers to the amount of money required to manage or mitigate the risk. Knowing the cost associated with the risk events helps the project team to allocate the necessary resources and budget for risk management.
D. Risk owner: Each risk event should have an identified risk owner, who is responsible for monitoring and managing the risk. The risk owner is accountable for developing and executing the risk response plan.
In summary, documenting the identified risk events in the risk register should include additional information such as the risk schedule, potential risk responses, risk cost, and risk owner. By including this information, the project team can effectively manage and mitigate the identified risks, ensuring project success.