Change Request and Risk

Could someone please help me with these two topics: Change Request and New Risk ?

Q1: what is the first thing that a PM should do when he/she receives a change request from a stakeholder?

Perform impact analysis


Submit it to the CCB and then perform impact analysis

Q2. RISK:What are the steps to be followed when a new risk has been identified during project execution?

Thanks in advance.

Q1 - i think he should first check the impact and then CCB. Always you have to look for impact first.

Q2- I am not sure here but If a new risk is found in project execution phase means you are reactive here , so i would say you would try to avoid it or do a workaround to fix its effects and probably put in the issue log as well.

I would like to know the answer as well.

admin's picture

One the risk is identifed then you should do a risk assessment to analyze its impact on the project, its probablity etc. Your assessment will determine what response you take for the risk, either to transfer, mitigate, avoid or accept the risk.

If the risk is going to materialize soon then you may have take quick response actions.

indiageez's picture

 1) First, a manager should do an impact analysis before any further actions. This is a key factor in PMP.

2) Risk is very iterative process. Once a new risk is identified it should go through the Risk knowledge area processes like qualitative, quantative and risk response. We shouldnt be confused with Residual risk, secondary risk and new risk. There is a clear boundary between these risks. Once we understand this, then risk managerment knowledge are is pretty easy.

I appreciate your replies ... this risk section of the pmp exam is really bothering me  ...

When I attempt questions in the mock exams I get very confused about the way to handle a risk. Reading the question for the first time makes me think of one way to handle the risk and then reading the question for the second time makes me think otherwise..

Gurus please suggest some simple to understand resource/explanation that will be useful to me to get a grasp of how to handle a risk.