A risk manager is managing risks of a mission critical application. A subject matter expert (SME) asks the risk manager to treat every single risk identified as an extremely high priority.
What should the risk manager do?
A.
Agree with the SME, treat every risk with equal priority, and inform all stakeholders.
B.
Perform a sensitivity analysis and determine the correct priority of every identified risk.
C.
Mark every identified risk as an extremely high priority and any future risks as a lower priority.
D.
Ask the project sponsor if every risk in the risk register can have the same priority.
I would recommend option B: Perform a sensitivity analysis and determine the correct priority of every identified risk.
It is important for the risk manager to assess the likelihood and impact of each identified risk in order to prioritize them effectively. Treating every risk as an extremely high priority may not be practical or necessary, and could lead to resource constraints and potential delays in the project. By performing a sensitivity analysis, the risk manager can evaluate the risks and determine which ones need the most attention and resources based on their potential impact on the project. This will allow the risk manager to effectively allocate resources and prioritize risks in a way that is both realistic and effective in mitigating potential risks to the project.
upvoted 2 times
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IBANGA007
11 months, 1 week ago