PMI Risk Management Professional (PMI-RMP) — Question 104

At the completion of a small project, the risk manager performs a risk audit and finds that several identified risks had occurred, and the impact was significantly larger than expected. While the project remained on schedule, the project budget increased by 50%. The project met all risk response milestones and no additional, previously unidentified risks, occurred on the project.
Based on this information, what risk management process improvement should the risk manager recommend for future similar projects?

Answer options

• A. Increase frequency of risk management meetings with the project manager.
• B. Revise the level of accuracy of probability and impact scores.
• C. Document the risk audit report and capture it in the lessons learned database.
• D. Expand the use of risk identification techniques.

Correct answer: C

Explanation

The correct answer is C because documenting the risk audit report and capturing it in the lessons learned database ensures that valuable insights are available for future projects, helping to improve risk management practices. Options A and D do not directly address the need for learning from past experiences, while option B focuses on numerical assessments rather than documentation of lessons learned.