You are the project manager of HGT project. You are in the first phase of the risk response
process and are doing following tasks :
Communicating risk analysis results
Reporting risk management activities and the state of compliance
Interpreting independent risk assessment findings
Identifying business opportunities
Which of the following process are you performing?
A.
Articulating risk
B.
Mitigating risk
C.
Tracking risk
D.
Reporting risk
Explanation:
Articulating risk is the first phase in the risk response process to ensure that information on the
true state of exposures and opportunities are made available in a timely manner and to the right
people for appropriate response. Following are the tasks that are involved in articulating risk:
Communicate risk analysis results.
Report risk management activities and the state of compliance.
Interpret independent risk assessment findings.
Identify business opportunities.
Answer B is incorrect. Risk mitigation attempts to reduce the probability of a risk event and its
impacts to an acceptable level. Risk mitigation can utilize various forms of control carefully
integrated together. This comes under risk response process and is latter stage after articulating
risk.
Answer D is incorrect. This is not related to risk response process. It is a type of risk. Reporting
risks are the risks that are caused due to wrong reporting which leads to bad decision.
Answer C is incorrect. Tracking risk is the process of tracking the ongoing status of risk mitigation
processes. This tracking ensures that the risk response strategy remains active and that proposed
controls are implemented according to schedule.