PMI Risk Management Professional (PMI-RMP) — Question 178

During the initiation phase of a construction project, the risk manager begins preparing the risk management plan. The project involves multiple stakeholders, tight deadlines, and significant uncertainty regarding resource availability. The plan must outline how risks will be identified, analyzed, and addressed throughout the project life cycle.

Which components should be included in the risk management plan to ensure effective risk management?

Answer options

• A. Issue log, quality log, change requests, status reports, lessons learned, and risk log
• B. Risk management approach and processes, roles and responsibilities, tools, techniques, and reporting requirements
• C. Scope, schedule, cost, quality, resources, communication, procurement, and stakeholder management
• D. Project charter, project plan, stakeholder register, resource management plan, and communication plan

Correct answer: B

Explanation

The correct option, B, is essential as it outlines the risk management approach, including roles, processes, and tools necessary for effective risk management. Options A, C, and D encompass various project management aspects but do not specifically address the comprehensive risk management framework needed for this project.