PMI-RMP Certification Training - Escalate and Avoid

The video tutorial covers two negative risk strategies: escalation and avoidance. Escalation is used when a threat is beyond the project's scope or resources, transferring the risk to a higher organizational level. Once escalated, the risk is removed from the project's risk register. Risk avoidance involves eliminating the threat or its impact, effectively removing it from the risk register. This strategy may lead to secondary risks. Examples include changing project plans or strategies to avoid risks. The tutorial emphasizes understanding when to use each strategy and the implications for project management.

When is it appropriate to escalate a risk?

• When the threat is beyond the project's scope or authority

• When the project manager has enough resources

• When the risk is within the project scope

• When the risk is already mitigated

What happens to a risk in the project's risk register once it is escalated?

• It is transferred to another project

• It is marked as resolved

• It is removed from the register

• It remains in the register for monitoring

What is the primary goal of risk avoidance?

• To reduce the risk's impact to zero

• To transfer the risk to another party

• To escalate the risk to higher management

• To monitor the risk continuously

Which of the following is an example of risk avoidance?

• Buying insurance for a project

• Escalating the risk to a higher level

• Taking a train to avoid the risk of a flat tire

• Monitoring the risk closely

For which type of risks is avoidance most appropriate?

• Low priority risks with minimal impact

• Risks that are outside the project scope

• High priority risks with high probability and impact

• Risks that have already occurred

Which risk response strategy removes a risk from the risk register?

• Transfer

• Mitigation

• Monitoring

• Avoidance

What are some actions that can be taken to avoid risks?

• Both A and C

• Reducing the project scope

• Ignoring the risk

• Extending the project schedule