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Avoiding Vs Mitigating Risk

Here we discuss Freely Available PMP® mock exam questions. Internet is full of free PMP® Simulators but most of these simulators does not provide good explanation of answers, here we discuss them.
sdutt
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Joined: Sun Mar 26, 2017 11:27 am

Avoiding Vs Mitigating Risk

Postby sdutt Tue Apr 25, 2017 10:47 am

You are adding 2 resources to your project so that you can complete project on schedule. This is called

1.Resource Leveling
2. Avoiding Risk
3.Mitigating Risk
4.Critical Chain Method.

Can some one pls help pick the correct answer with explanation? Thanks.
VCAB
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Re: Avoiding Vs Mitigating Risk

Postby VCAB Tue Apr 25, 2017 2:43 pm

Let me attempt and hope it helps

You are adding 2 resources to your project so that you can complete project on schedule. This is called
1.Resource Leveling
2. Avoiding Risk
3.Mitigating Risk
4.Critical Chain Method.

Can some one pls help pick the correct answer with explanation? Thanks.

I think we need to first eliminate the wrong answers and keep only the correct and most likely one....
1 and 4 will be eliminated. Resource Leveling is used when there are resource constraint, it extends completion date, in other words the project will have a new closing date---the question says, suggested completing on schedule---if fast tracking or crashing was an option, then it would be one of them depending on the question

4 is also eliminated because provides buffers to protect the project due date it is assume that there is resource restriction and high risk

[b]You are adding 2 resources to your project so that you can complete project on schedule
I would then eliminate 3, mitigation which is changing plans to ensure that the impact and/or probability is reduced

I think A, which suggests changing plan to eliminate a risk...the risk here is not finishing on time, so to avoid delays, the project is adding two resources

One of the host, Sakat or others might confirm or correct me, which I gladly appreciate
sdutt
Posts: 14
Joined: Sun Mar 26, 2017 11:27 am

Re: Avoiding Vs Mitigating Risk

Postby sdutt Tue Apr 25, 2017 3:55 pm

Hey ..thanks so much ....kind of makes sense. ....I got confused cause mitigation also means doing some action to help reduce some risk ...in this case the schedule risk.
nazrulq
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Re: Avoiding Vs Mitigating Risk

Postby nazrulq Tue Jun 27, 2017 6:07 pm

I think it is for Mitigating Risk of Project Schedule. Question is not clear enough . There could be secondary risk after adding resource too.
manishpn
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Re: Avoiding Vs Mitigating Risk

Postby manishpn Thu Jun 29, 2017 9:29 am

based on the information provided its difficult to conclude for sure but my impression is that adding resource to project is a risk mitigation as, its only going to reduce the probability or impact of risk not eliminate it,

Risk avoidance is on other hand actions taken by project to eliminate risk threat or take actions to protect itself from the threat.
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
VCAB
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Re: Avoiding Vs Mitigating Risk

Postby VCAB Thu Jun 29, 2017 5:18 pm

Exactly, because I read through the problem without going through the thread and came up with mitigation as an answer....so both avoidance and mitigation are right
nazrulq
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Re: Avoiding Vs Mitigating Risk

Postby nazrulq Thu Jun 29, 2017 5:53 pm

The question is concern about completing the tasks in scheduled time. Adding resources are mitigation of
Risk for not being finished on time Called "Crushing". that could increase risk too. This might create secondary risk. Not really clear adding resource is not avoiding risk or transfer risk to eliminate the threat.
manishpn
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Re: Avoiding Vs Mitigating Risk

Postby manishpn Mon Jul 31, 2017 1:23 pm

as long as concept is understood we should be fine
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/

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