Urgent help - exam day after tomorrow - thx

 


Got exam day after tomorrow - will appreciate your help. Thanks.


Are risks with probability greater than 70% called Issues??


 


Sample question below says Answer is B with reason as -- "any risk that is >= 70% is not a risk any more, it is an issue. They should be entered into the issues"


 


 


Q - You are a Junior Project Manager on a large project with several other Junior Project Managers and you all report to a Senior Project Manager. You have identified many risks and entered them in the Risk Register with their corresponding impact and probabilities. The Senior Project Manager is reviewing your entries in the risk register and is expressing dissatisfaction on some of the entries that you are showing as a 70% probability of occurring with a high impact. What would best describe the reason for this dissatisfaction?
A. The Senior Project Manager needs more information to make a decision on these risks
B. These risks are issues and should be entered in the issues log
C. Such high impact risks should have been identified earlier on in the project
D. The Senior Project Manager does not agree with the viability of these


Hello,


Please clarify the source of this question.


I am not sure, but to my understanding, the Risk Register is containing the more serious issues. Thinking about it, the Risk Management is passing through several processes, identifications, analysis, responses, probability and impact, quantitative analysis, .... On the other hand, the issue log records the issue, set a responsible for resolving it, and fix a due date for the solution, and updates of the situation status.


Again, to my understanding, issues log is used for an event that ocured, is occuring, or is definit to occur, and needs attention. I rate it as less important than corrective action or defect repair. On the other hand, risk is dealing with future uncertain events, and will take different measures to deal with it, such as mitigation, transfer,exploit, enhance,...


If I have to select an answer, I would go for D (as before we analyze probability and impact, we check the accuracy of the collected data and identified risks).


Can anyone please let us know why the right answer is B?


Thanks and regards,


Sherif


 

Guys,


I found the question, it's in Examcentral.com, When a I took the exam I answered the B, to be honest with you, I ddn't sure, but it was a feeling, I think that is B because P x I is to high. so my undertanding is that is will be an issue. Anyway. this is the EXamcentral answer.


any risk that is <= 70% is not a risk anymore is an issue, they should be entered in the issue log


 


I Hope it clarify

The only thing I can offer is that at 70% chance with a high impact (-ve) risk occurance does not seem practical and should practically be called an issue.

I did a few Google searches and there is a definit relationship between risk and issue but I am not sure othe line where it crosses.  70% seems more like an issue to me than a risk.


By process of elimination I would say B or D. A and C would be out.

 

On another note.  I used process of elimination quite a few times on the exam.  

 

Good luck and best regards,

 

"Answer is B with reason as -- "any risk that is >= 70% is not a risk any more, it is an issue. They should be entered into the issues"

I don't agree with that. Any references to the source?

Issue is when the risk occures. At this point there's no indication that you're in the executing of the project.

My answer would've been A. Only because the impact is marked as high. So I would guess that quantitave analysis wasn't completed.

Please keep in mind that risk can have possitive or negative impact (threat/opportunity).