Program Risk Identification

Correct Answer: Conduct a program risk workshop with key program stakeholders to brainstorm and categorize risks.

Conducting a program risk workshop with key stakeholders is the most effective method among the options to identify program-level risks. This approach allows for a comprehensive and collaborative identification of risks that might impact the program, leveraging the diverse perspectives and expertise of various stakeholders. Option 1, while involving project leads, might not capture the full spectrum of program-level risks as it lacks the collective brainstorming aspect. Option 2 focuses on technology without the critical human element for interpreting and prioritizing risks. Option 3, although it involves an important activity of updating the risk management plan, it does not directly involve the identification of new risks through stakeholder engagement.

Correct Answer: Conduct a program-wide risk assessment session with all key stakeholders to collaboratively identify and document potential risks.

Collaborating with key stakeholders in a structured session is fundamental for comprehensive risk identification, especially in complex programs. This approach ensures diverse perspectives are considered, covering technical, operational, and strategic risks. Other methods, like relying solely on software predictions, focusing on department-specific risks without a unifying session, or depending solely on ad-hoc feedback, might miss critical risks or result in a fragmented understanding of program risks. Thus, a collaborative session stands out as the most effective approach.

Correct Answer: Implementing a Delphi technique to gather expert opinions on potential risks anonymously

All options presented are plausible techniques for identifying program risks, making it less obvious which is the most effective. The Delphi technique is particularly effective for risk identification because it involves collecting expert judgments anonymously, promoting unbiased and honest input, which enhances the quality of the risk identification process. Reviewing documentation, conducting SWOT analyses, and utilizing Monte Carlo simulations are also valuable for risk management but are not as directly focused on the identification of new risks as the Delphi technique.