A project manager for a software development company faces a number of financial risks in their project. The project manager needs to frequently check the strength and efficiency of the risk management process.
What should the project manager use to accomplish this?
To frequently check the strength and efficiency of the risk management process, the project manager should use an audit meeting. An audit meeting involves a systematic review to ensure that the risk management activities are properly executed, the risk responses are effective, and the overall process adheres to the established risk management plan.
Project risk audits are often performed throughout the project to ensure that the project stays on track and remains healthy. Risk audit is the examination and documentation of the effectiveness of risk responses in dealing with identified risk and their root causes, as well as the effectiveness of the risk management process.
BUT THIS IS NOT RISK IDENTIFICATION
D.audit meeting
Answer D: Audit to check alignment of processes being followed for not. 7th edition, page#79
I still missing in the discussions the answers like tis one. It is very useful to know where can i find it in the pmbok. Thanks a lot. Good job!!!!
I prefer A however I just confirmed that there is a Risk Audit process within PMI. thoughts? https://www.pmi.org/learning/library/risk-analysis-project-management-7070
D is the correct answer. Audits are the only way to tell if you are following all the processes as laid out. Risk management is no different. The organization needs to ensure that the risk management plan is respected and risk responses are applied in a time manner .
Audit meeting
Audits and Meetings are the tools for Monitor Risks Process according to PMI Process Groups Practice Guide
D. Audit meeting
A risk audit, or risk review, is an evaluation used to identify potential safety and operational threats, their causes and the effectiveness of established risk management processes.
D. Audit meeting
D for my side
D. Risk Audit will help in checking the efficiency of risk management process.
We audit processes to make sure they aligne with OPAs set in place !!!
This has to be an error, B may have been originally "risk register"
D. Audit meeting
For me it's A, at least for the identification of the risks. Then come the qualitative and quantitative