11.2 Identify Risks (Proj. Risk MGMT)

Question 1

what is 11.2 identify risks? (2)

Answer 1

1. identifying individual project risks and sources of overall project risk
2. documenting characteristics

Question 2

what is the key benefit to 11.2 identify risks? (2)

Answer 2

1. documentation of existing individual project risks and the sources of overall project risk
2. brings information together so team can respond appropriately

Question 3

when is 11.2 identify risks performed during a project?

Answer 3

throughout

Question 4

11.2 identify risks - inputs (6)

Answer 4

1. project management plan (9)
2. project documents (8)
3. agreements
4. procurement documentation
5. EEF’s
6. OPA’s

Question 5

what project management plan inputs are relevant to 11.2 identify risks? (9)

Answer 5

a. requirements management plan
b. schedule management plan
c. cost management plan
d. quality management plan
e. resource management plan
f. risk management plan
g. scope baseline
h. schedule baseline
i. cost baseline

Question 6

what project document inputs are relevant to 11.2 identify risks? (8)

Answer 6

a. assumption log
b. cost estimates
c. duration estimates
d. issue log
e. lessons learned register
f. requirements documentation
g. resource requirements
h. stakeholder register

Question 7

11.2 identify risks - tools and techniques (6)

Answer 7

1. expert judgement
2. data gathering (3)
3. data analysis (4)
4. interpersonal and team skills (1)
5. prompt lists
6. meetings

Question 8

what data gathering tools and techniques are relevant to 11.2 identify risks? (3)

Answer 8

a. brainstorming
b. checklists
c. interviews

Question 9

what data analysis tools and techniques are relevant to 11.2 identify risks?

Answer 9

a. root cause analysis
b. assumption and constraint analysis
c. SWOT analysis
d. document analysis

Question 10

what aspects of agreement inputs are relevant for 11.2 identify risks?

Answer 10

the following can present threats or opportunities:

1. milestone dates
2. contract type
3. acceptance criteria
4. awards/penalties

Question 11

what are example EEF’s that are relevant inputs to 11.2 identify risks?

Answer 11

1. published materials (ex. commercial risk databases or checklists)
2. academic studies
3. benchmarking results
4. industry studies of similar projects

Question 12

what OPA’s are relevant inputs to 11.2 identify risks?

Answer 12

1. project files (ex. actual data)
2. organization and project process controls
3. risk statement formats
4. checklists from previous similar projects

Question 13

what is assumption and constraint analysis?

Answer 13

explores the validity of assumptions and constraints to determine which pose a risk to the project

Question 14

what is SWOT analysis?

Answer 14

examines the project from various perspectives:

1. strengths
2. weaknesses
3. opportunities
4. threats

Question 15

what is a prompt list?

Answer 15

predetermined list of risk categories that may give rise to individual project risks
PESTLE = political, economic, social, technological, legal, environmental
TECOP = technical, environmental, commercial, operational, political
VUCA = volatility, uncertainty, complexity, ambiguity

Question 16

11.2 identify risks - outputs

Answer 16

1. risk register
2. risk report
3. project documents updates (3)

Question 17

what project documents updates are relevant to 11.2 identify risks? (3)

Answer 17

a. assumption log
b. issue log
c. lessons learned register

Question 18

what does the risk register include? (3)

Answer 18

1. list of identified risks
2. potential risk owners
3. list of potential risk responses

Question 19

what does the risk report include? (2)

Answer 19

1. sources of overall project risk

2. summary information on identified individual project risks