Question

Submitted by dipti1pmp on Fri, 09/19/2014 - 07:50

You may miss a important milestone due to unavaliability of skilled resource your project is demanding. You want to aquire outside resource to handle the situation. What tool can be used to meet the risk?

1. Contigent Response Strategy
2. Exploit the risk
3. Acept the rsik
4. Transfer the risk

please can you explain....

Forums: 
General Discussion
  • Log in to post comments
  • 352 reads

Sandeep111

Fri, 09/19/2014 - 10:20

Correct Ans is 4. Transfer the risk because you are hiring a very skilled Expert outside resource or contract resource for completing pending important milestone work only. Means you are transferring your risk to outside resource.

macisu's picture

macisu

Fri, 09/19/2014 - 15:33

Agree. The correct answer D.
See Pag 344 PMBOOK 5th
Strategies for negative risks or threats

signor_rk

Sat, 09/20/2014 - 14:29

hi friends,

I would like to choose the Option # 1. Contingent Response Strategy.

Reference to Page # 346 , Para 11.5.2.3 PMBOK5 , we can find the explanation related to this question.

Here, the project manager is going to miss an important milestone , which is a predefined condition. In the event of occurrence of this risk , a contingency plan will be executed which defines the acquiring outside resource to handle the situation.

This is my understanding. Any further review and comments are highly solicited.

Regards,
Ranjit

Sandeep111

Mon, 09/22/2014 - 04:49

signor_rk, Questing is saying you want to aquire outside resource to handle the situation it means contingency reserve for such situation was not established because of that PM is looking outside resource.
If question is
Question: You may miss a important milestone due to unavaliability of skilled resource your project is demanding. What tool can be used to meet the risk?
Than ans would be Option # 1. Contingent Response Strategy.
Please highlight if I am wrong.

dipti1pmp

Tue, 09/23/2014 - 04:17

not sure if contingent or transfer,,,.....

saketbansal's picture

saketbansal

Wed, 09/24/2014 - 16:10

Irrespective of the official answer , i believe marking a case of transfer is not right, since it is only talking about hiring not sub contracting the work to a vendor with responsibility to complete it. if i hire people and they do not perform risk is still with me.

We had hangout on risk responses sometime back, you may like to check video of it.

https://www.youtube.com/watch?v=b5UTxqw1Uaw

slashinv

Wed, 10/08/2014 - 08:40

The best suitable answer is - mitigate risk
but this is not listed in 4 choices !

contingency responses are used when known risk occurs. As per the question, you do NOT want the risk(of missing the milestone) to get materialized and hence you want to hire an external resource , because your existing project team does not skilled resource. So actually you are trying to 'mitigate' the identified risk BEFORE it occurs.

2 & 3 are not the correct strategies.

'Transfer risk' does not fit as a correct choice, because YOU are just acquiring an external resource to 'close out' the risk in your project ; but the risk&the impact itself is not transferred to third party as that in buying insurance or warranty !