Test 6 Q 179

Discussion in 'PMP' started by _30498, Aug 12, 2018.

  1. _30498

    _30498 Active Member

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    While identifying risks in your project, your team cannot find an efficient way to reduce the impact and probability or to insure against one of the risks. The relevant work is integral to the project; thus, you cannot simply remove the work package. There is no suitable company to outsource the work to either. What is the best course of action in this situation?

    Correct answer:
    Identify ways to transfer the risk

    My answer:
    Accept the risk and have contingency reserves

    I am confused by Question mentioned cannot insure against the risk, to determine this team should already looked way to transfer the risks.
     
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  2. Arvind Shekhar

    Arvind Shekhar Well-Known Member

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    Hi This question has been replied by Tim Also and discussed on Forum.
    Lets Decompose it,
    While identifying risks in your project, = risk is not out side of scope of project , can not Escalate (ruled out)
    your team cannot find an efficient way to reduce the impact and probability or to insure against one of the risks.= No Mitigation
    The relevant work is integral to the project; thus, you cannot simply remove the work package. = can not avoid it
    There is no suitable company to outsource the work to either. = No transfer
    What is the best course of action in this situation? = Remaining Strategy i.e. Accept ,
    "The most common active acceptance strategy is to establish contingency reserve." (PMBOK Page 443)
    Your answer is in line of Analysis that leads to most suited answer.

    Regards

    Arvind
     
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    tim jerome likes this.

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