Risk Management Stakeholder Involvement
Is stakeholder management in the PMI risk management process proactive or reactive?
Proactive
What is the first step in project stakeholder management?
Stakeholder Identification
This event or condition gives an indication when a certain risk is expected to occur.
Risk trigger or trigger
The output of “Identify Risks” is documented in this template
Risk register
Do stakeholders represent an opportunity or a threat?
Both
When does the stakeholder management end?
Never, it’s continuous
True or False; the risk owner and the risk action owner are always assigned to distinct individuals, this ensures proper accountability of risk management
False, this role may be assigned to the same person
A PESTLE analysis is commonly used for projects that span global boarders, what do the letters in the acronym PESTLE stand for?
Political, Economic, Social, Technological, Legal, & Environmental
Why involve stakeholders in risk identification?
Help in early identification of risks
What type of stakeholder is a stakeholder with no influence, but has interest?
Secondary
Why involve stakeholders in risk response planning?
To manage expectations
What does PSR stand for?
Project Status Report
Why involve stakeholders in the Project Risk Management Process?
Ensure commitment to RM process
Based on the stakeholder influence/interest grid; if a stakeholder has a high ability to influence, but a low interest in the project, how should you prioritize the stakeholder?
Keep Satisfied
Name the 3 positive risk response strategies, otherwise known as opportunities.
Exploit, share, and enhance
Identifying root causes allows a project team to potentially address multiple risks by tacking a single issue. What are 3 names for a type of diagram used in root cause analysis?
Fishbone diagram, cause-and-effect diagram, & Ishikawa diagram.
*Bonus* Herringbone diagram