PMI Risk Management Professional (PMI-RMP) — Question 194

During the execution of a multi-million dollar project, the project manager learns of the theft of important installation materials at one of the most time-critical sites.
The project manager contacts the risk manager to discuss further steps, based on the risk register and the defined risk strategy for the risk of theft. However, the risk manager clarifies that the risk of theft was not identified in the risk management process.
What should the project manager do next?

Answer options

• A. Deal with the issue and instruct the risk manager to include the risk of theft in the issue log.
• B. Update the project schedule and inform the stakeholders about the project schedule delay.
• C. Instruct the risk manager to transfer the risk of theft to an insurance company and capture the experience in the lessons learned.
• D. Make the risk manager responsible for the damage caused by the missing risk strategy for theft and update the project schedule.

Correct answer: C

Explanation

The correct answer is C because transferring the risk to an insurance company helps mitigate the financial impact of the theft, while capturing the experience in lessons learned aids in future project planning. Options A and D place undue responsibility on the risk manager without addressing the financial risk effectively. Option B does not address the theft issue directly and only focuses on communicating delays.