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Proactive Risk Management

5 minutes 5 Questions

Proactive risk management is the process of anticipating potential risks before they occur and implementing strategies to mitigate or eliminate their impact on the project. Instead of merely reacting to risks as they arise, proactive risk management focuses on predicting and preparing for potential…

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Agile Project Management - Proactive Risk Management Example Questions

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Question 1

A team starts an Agile project and identifies potential risks. The team faces a significant risk related to new technology implementation in the third sprint. What should be the most proactive response?

Correct Answer: Develop a risk management strategy in the early stages of the project, specific to the new technology.

Answer 1 is incorrect because ignoring a significant risk can lead to severe consequences for the project. Answer 2 is incorrect because delaying the project start is not a proactive approach and can also lead to additional issues. Answer 3 is incorrect because switching technologies without proper assessment can introduce new risks. Answer 4 is incorrect because assigning a new team member for risk management might not be sufficient. The correct answer involves developing a risk management strategy earlier in the project stages to minimize the impact of the identified risk.

Question 2

The project team realizes that an unexpected external regulation will impact their Agile project. How should the team proactively manage this new risk?

Correct Answer: Assess the risk impact, develop a mitigation plan, and adapt future sprints accordingly.

The correct answer involves understanding the regulation's impact on the project and adapting to minimize its effect on the project. Ignoring or stopping the project are not proactive approaches and can lead to severe project consequences. Other incorrect answers involve inappropriately assigning risk responsibilities or increasing workloads, which might not effectively manage the risk.

Question 3

An Agile project frequently experiences disruptions from late deliveries due to an unreliable third-party component provider. What is the most proactive approach to minimize future project risks?

Correct Answer: Identify the risks associated with the unreliable provider and explore alternatives in case of failure.

The correct answer focuses on understanding the risks caused by an unreliable provider and actively seeking alternatives. Terminating the relationship, negotiating, or adjusting the project plan does not address the root issue or offer a proactive solution. Similarly, delaying the project or increasing the budget does not necessarily resolve the problem.

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