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Oliver 75 - 48th Question

jyotimayank
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Oliver 75 - 48th Question

Postby jyotimayank Wed May 04, 2016 12:30 pm

48. What should not be covered by a risk management plan?

A. Roles and responsibilities for handling project risks
B. Timing of project risk management activities
C. The methodological approach used for risk management
D. Individual risks and potential responses to them
Jyoti Gupta
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Ananyapmp
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Re: Oliver 75 - 48th Question

Postby Ananyapmp Fri May 06, 2016 12:28 pm

I am confused between C and D
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Re: Oliver 75 - 48th Question

Postby jyotimayank Thu May 12, 2016 9:39 am

Yes the correct answer is D.

Individual risks and potential responses to them are included in Risk Register and not risk management plan

As per PMBOK® Guide 5th Edition

The risk management plan is a component of the project management plan and describes how risk management activities will be structured and performed. The risk management plan includes the following:

• Methodology:Defines the approaches, tools, and data sources.
• Roles and responsibilities: Defines the lead, support, and risk management team members for each type of activity in the risk management plan.
• Budgeting
• Timing: Defines when and how often the risk management processes will be performed throughout the project life cycle, establishes protocols for application of schedule contingency reserves.
• Risk categories
• Definitions of risk probability and impact
•Probability and impact matrix
• Revised stakeholders’ tolerances
• Reporting formats
• Tracking

Refer to Page 316, 327 of PMBOK® Guide 5th Edition
Jyoti Gupta
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iZenbridge Consultancy Pvt Ltd

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