PMP Question 37

[admin]

While preparing your risk responses, you identify additional risks, what should you do?

a) Add reserves to the project to accommodate the new risks and notify management
b) Document the risk items and calculate the expected monetary value based on probability and impact that result from occurrences
c) Determine the risk events and the associated costs, then add the cost to the project budget as a reserve
d) Add a 10% contingency to the project budget and notify the customer

[admin]

The correct answer is B.

When a new risk is identified, it should go through the risk management process. Choice A cannot be the best choice, as you first need to determine the probability and impact of the risk and then try to diminish impact through the Plan Risk Responses process. Only after these efforts should you add reserves. Choice C addresses only costs, when there could also be a time impact. This choice also ignores the work of the Plan Risk Responses process. Choice D cannot be the best choice because it is better to determine reserves based on a detailed analysis of risk. Therefore, the best choice is B.

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