PMI Risk Management Professional (PMI-RMP) — Question 136

A new project manager has been assigned to work on an ongoing project. When checking the project documentation, the project manager realizes the risk register items do not comply with the contracted scope. The project manager wants to use an objective method to determine the key project risks and develop response plans.

What action should the risk manager propose?

Answer options

• A. Hire a risk expert to perform a PESTLE evaluation.
• B. Review the lessons learned from other projects.
• C. Ask the team to perform a Monte Carlo analysis.
• D. Ask the team to perform an earned value analysis.

Correct answer: A

Explanation

The correct answer is A because hiring a risk expert to perform a PESTLE evaluation allows for a comprehensive analysis of the external factors affecting the project. Option B, while helpful, does not provide an objective method for identifying risks. Option C, Monte Carlo analysis, is a quantitative risk assessment but may not cover all external factors, and option D, earned value analysis, focuses on project performance rather than risk identification.