PMI-RMP Certification Training - Risks Reassessment

The video tutorial covers the process of managing a project risk register. It begins with identifying new risks and determining appropriate responses. After implementing these responses, risks are reassessed for their probability and impact. The tutorial explains how to close outdated risks and update contingency plans. It also discusses reasons for risk reassessment, such as major risks or project changes. Finally, it emphasizes the importance of evaluating the effectiveness of risk responses and revisiting risk management plans in the event of organizational changes.

What is the first step in managing project risks according to the video?

• Implementing risk responses

• Identifying new risks

• Closing outdated risks

• Updating the cost baseline

When should a project manager consider closing a risk?

• When the project is completed

• When the risk response is implemented

• When the risk is identified

• When the risk is no longer possible

Why might a project manager need to update the cost baseline?

• To remove contingency reserves

• To implement new technologies

• To increase project scope

• To add new risks

Which of the following is a reason for conducting a risk reassessment?

• Completion of a daily stand-up meeting

• Introduction of a new team member

• Approval of a minor change request

• Completion of a project phase

How should risk responses affect threats and opportunities?

• Only focus on threats

• Keep threats and opportunities unchanged

• Decrease threats and increase opportunities

• Increase threats and decrease opportunities