Risk Triggers

Risk Triggers: A Comprehensive Guide for PMI-RMP

What Are Risk Triggers?

Risk triggers are warning signs or indicators that a risk is about to occur or has already begun to materialize. They serve as early warning systems in project risk management, signaling that a risk event is imminent and response plans should be activated.

Why Risk Triggers Are Important

Risk triggers play a crucial role in proactive risk management for several reasons:

• They provide advance notice before a risk fully materializes
• They allow project teams to implement response strategies in a timely manner
• They transform reactive risk management into proactive risk management
• They help in monitoring risks throughout the project lifecycle
• They increase the likelihood of successful risk mitigation

How Risk Triggers Work

Risk triggers function as thresholds or conditions that, when met, indicate a risk is about to occur. For example:

• If a key team member resigns, this could trigger staffing shortage risks
• If project schedule slips by more than 10%, this could trigger timeline risk responses
• If material costs increase beyond 5% of estimates, this could trigger budget overrun responses

Risk triggers should be:

1. Specific and measurable - Clearly defined so they can be monitored objectively
2. Relevant - Directly related to the risk they're indicating
3. Timely - Provide sufficient warning to implement responses
4. Documented - Included in the risk register along with the associated risks and responses

Developing Effective Risk Triggers

To develop effective risk triggers:

1. Identify potential risks through risk assessment processes
2. For each risk, determine what events or conditions would indicate the risk is about to occur
3. Define measurable thresholds that constitute a trigger
4. Document these triggers in the risk register
5. Assign responsibility for monitoring triggers
6. Link triggers to specific response plans

Examples of Risk Triggers in Different Knowledge Areas

• Schedule Management: SPI (Schedule Performance Index) falls below 0.95
• Cost Management: CPI (Cost Performance Index) falls below 0.90
• Quality Management: Defect rate exceeds 5% in deliverables
• Procurement Management: Vendor misses second consecutive milestone
• Resource Management: Key skill utilization exceeds 95% capacity

Risk Triggers vs. Risk Symptoms

It's important to differentiate between risk triggers and risk symptoms:

• Risk triggers are warning signs that a risk might occur soon
• Risk symptoms are indications that a risk has already begun to materialize

For example, increasing team conflict is a trigger for potential schedule delays, while actual missed deadlines are symptoms that the schedule risk has already materialized.

Exam Tips: Answering Questions on Risk Triggers

When answering PMI-RMP exam questions about risk triggers:

1. Understand the relationship between triggers and risks - A trigger is not the risk itself but an indicator the risk may occur

2. Know the purpose of triggers - They exist to provide early warning and enable proactive responses

3. Look for specificity in answer choices - Good triggers are specific, measurable, and actionable

4. Consider the timing - Effective triggers provide enough advance notice to implement responses

5. Remember documentation requirements - Triggers should be documented in the risk register along with associated risks and responses

6. Differentiate between monitoring and controlling - Monitoring involves watching for triggers, while controlling involves implementing responses once triggered

7. Identify trigger responsibilities - Someone must be responsible for monitoring and reporting when triggers occur

8. Connect triggers to response strategies - Each trigger should be linked to specific response actions

Sample Question Types

Scenario-based questions might present a project situation and ask you to identify which risk trigger is most appropriate.

Process questions might ask about when triggers are identified in the risk management process (typically during risk identification and assessment).

Documentation questions might ask where triggers should be recorded (in the risk register).

Response planning questions might ask what happens after a trigger occurs (implementation of the planned risk response).

Remember that effective risk triggers are essential components of a comprehensive risk management plan, enabling project teams to respond proactively rather than reactively to emerging risks.