CAPM Practice: Demonstrate an understanding of project management planning
Question 95 of 100 in Demonstrate an understanding of project management planning
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Correct answer: Document it in the risk register with probability, impact, and response strategy
Explanation
The risk register is the tool for documenting identified risks along with their probability, impact, and planned response strategies. This allows the team to proactively manage risks before they become issues.
**Why not A:** Removing the vendor entirely to eliminate the risk is an extreme response that may not be feasible or cost-effective. The appropriate first step is to document the risk and plan a proportionate response. Vendor removal might be considered as one possible response strategy, but it should not be the default action.
**Why not B:** Waiting until the delay occurs before taking action is reactive risk management. The purpose of risk identification during planning is to prepare proactive responses before risks materialize. Waiting converts a manageable risk into an unmanaged issue.
**Why not D:** Simply assigning the risk to the vendor does not constitute proper risk management. While risk transfer to a vendor can be a valid strategy, it must be documented in the risk register with agreed-upon terms. The project team retains responsibility for monitoring the risk even if ownership is shared.
Key Concept
This question covers Demonstrate an understanding of project management planning under Demonstrate an understanding of project management planning (Project Management Fundamentals and Core Concepts).
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