You work as a project manager for SoftTech Inc. You have implemented the risk action plan and it was not effective. What type of plan should you as a project manager will create for implementation if a selected risk strategy fails to be fully effective?
A.
Fallback plan
B.
Risk response plan
C.
Mitigation management plan
D.
Mitigation plan
Explanation:
A fallback plan can be developed for implementation in the case a selected strategy for a risk event is not as effective as was planned for.
A risk fallback plan is a proper plan devised to identify definite action to be taken if the risk action plan (Risk Mitigation Plan) is not helpful.
Fallback plan is important in Risk Response Planning. If the contingency plan for a risk is not successful, then the project team implements the fallback plan. Fall-back planning is intended for a known and specific activity that may perhaps fail to produce desired outcome. It is related with technical procedures and with the responsibility of the technical lead.Answer option D is incorrect. Mitigations are risk responses for negative risk events to lower the probability and/or impact of the risk impact.
Answer option B is incorrect. A risk response plan is a generic term to describe the seven risk responses and the risks within the project.
Answer option C is incorrect. A mitigation management plan is not a valid project management term.
Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"