Iterative Risk Management

5 minutes 5 Questions

Iterative risk management is the process of managing risk continuously throughout the agile project lifecycle. This agile risk management concept emphasizes evaluating risk at each iteration or sprint and making necessary adjustments to minimize the impact of risks on project deliverables and timel…

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Question 1

An Agile project team discovers that the current risk management practices have been ineffective. What's the most appropriate action to take?

Implement a risk management improvement plan and adapt according to feedback Discontinue risk management efforts Only address high impact risks Double the allocated time for risk management Switch to a waterfall methodology Avoid changing existing processes

Correct Answer: Implement a risk management improvement plan and adapt according to feedback

Improving the risk management process by implementing a plan and incorporating feedback ensures continuous improvement, aligning with Agile principles. Discontinuing risk management or focusing solely on high impact risks isn't effective. Doubling time for risk management and changing methodologies may not address the specific inefficiencies.

Question 2

The Agile project team has identified new risks mid-sprint. What should the team do next?

Assess the new risks and prioritize them within the existing risk register Ignore the new risks until the next sprint Delay the project deadline to account for additional risk management Stop the current sprint and plan a new one including the new risks Immediately address the new risks regardless of their potential impact Limit the number of new risks identified during a sprint

Correct Answer: Assess the new risks and prioritize them within the existing risk register

In Agile, it's important to adapt and respond to change. Assessing and prioritizing new risks within the existing risk register allows for informed decision-making. Ignoring the risks, disrupting sprints, or focusing solely on newly identified risks can lead to inefficiencies and lack of prioritization.

Question 3

The Agile project manager notices that team members are reluctant to share their concerns about project risks. What should the project manager do?

Foster a culture of open communication and encourage team members to share their concerns without fear of negative consequences Require team members to submit concerns anonymously Instruct team members to only report high-impact risks Introduce punitive measures for not sharing risks Ignore their concerns, assuming they aren't important Hold mandatory risk identification sessions without addressing the communication barrier

Correct Answer: Foster a culture of open communication and encourage team members to share their concerns without fear of negative consequences

Fostering a culture of open communication allows the team to identify and manage risks more effectively. Ignoring concerns, limiting the types of risks reported, or introducing punitive measures may discourage team members from sharing important information. Anonymous submission doesn't address the underlying communication issue.

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