The risk manager should update the risk priorities in the risk register and facilitate the selection of appropriate response strategies for the risks that are now considered high priority.
Option C is correct because risk information must be updated whenever reassessment identifies a change in risk exposure. If the original schedule and budget impacts were underestimated, the risk register should be revised to reflect the new information.
Updates may include:
• Revised probability ratings.
• Revised cost and schedule impacts.
• Revised probability-and-impact scores.
• Updated risk priorities.
• Changes in urgency or proximity.
• Updated risk triggers.
• Updated risk owners and action owners.
• Revised residual and secondary risks.
• New escalation requirements.
• Changes to contingency or management reserves.
Accurate and current risk information enables stakeholders to make informed decisions and ensures that attention and resources are directed toward the most significant risks.
Option D is correct because risks that have increased to a high-priority level require appropriate response planning. A risk-planning workshop allows the relevant stakeholders, risk owners, construction specialists, cost experts, schedule experts, contractors, and project leadership to select and agree on suitable response strategies.
For threats, the available response strategies may include:
• Avoid.
• Mitigate.
• Transfer.
• Escalate.
• Accept.
The workshop should also define response actions, responsibilities, deadlines, required resources, triggers, contingency plans, fallback plans, and reporting requirements.
Option A may be useful for determining why the original assessments were inaccurate. However, it is not one of the two most immediate actions. The priority is to update the risk information and plan appropriate responses.
Option B is incorrect because automation does not correct inaccurate risk assessments or determine suitable responses. Automated tracking is only effective when the underlying data and criteria are accurate.
Option E may be useful in certain circumstances, but predictive analytics is only one possible analysis technique. The question already states that the risks are being reassessed. The immediate required actions are to update the risk priorities and develop appropriate responses.
[References:, PMI, The Standard for Risk Management in Portfolios, Programs, and Projects.PMI, PMBOK® Guide, Sixth Edition, Section 11.7, Monitor Risks.PMI, PMBOK® Guide, Sixth Edition, Section 11.5, Plan Risk Responses.PMI, PMBOK® Guide, Seventh Edition, Uncertainty and Measurement Performance Domains.PMI-RMP® Examination Content Outline, Monitor and Close Risks Domain.PMI-RMP® Examination Content Outline, Risk Response Domain.ISO 31000:2018, Risk Management—Guidelines, Sections 6.4.3, 6.4.4, 6.5, and 6.6., , ]
