CAPM Practice: Determine how to follow and execute planned strategies or frameworks
Question 26 of 100 in Determine how to follow and execute planned strategies or frameworks
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Correct answer: Document the risk, assess its impact and probability, and update the risk register
Explanation
Following the risk management framework means documenting newly identified risks, assessing them, and updating the risk register. This ensures the risk is tracked and appropriate responses can be planned based on its priority.
**Why not B:** Immediately implementing a mitigation strategy without consulting the team bypasses proper risk management procedures. New risks should first be documented and assessed so the team can develop an informed, collaborative response based on the risk's characteristics.
**Why not C:** Waiting until the next planning phase to document and assess the risk is too slow. Risks should be recorded and evaluated as soon as they are identified to ensure timely response planning and to prevent the risk from materializing without a plan in place.
**Why not D:** Escalating to senior management before taking any action is premature. The project manager should first document and assess the risk following the risk management framework. Escalation may be appropriate later if the risk exceeds the project manager's authority to address.
Key Concept
This question covers Determine how to follow and execute planned strategies or frameworks under Determine how to follow and execute planned strategies or frameworks (Project Management Fundamentals and Core Concepts).
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