Defining Risk Triggers

Correct Answer: Risk symptoms are warning signs that indicate a risk might occur, while triggers are specific events that signal risk occurrence

In project risk management: The correct answer accurately defines the relationship between risk symptoms and risk triggers: - Risk symptoms are early warning signs or indicators that suggest a risk might materialize - Risk triggers are specific events or conditions that signal a risk has occurred or is about to occur Why other options are incorrect: - Reversing the definitions by stating symptoms are measurable events and triggers are general indicators is inaccurate - Symptoms and triggers are distinct concepts with different roles in risk management, not identical terms - Describing symptoms as predetermined thresholds misrepresents their nature as warning signs, while triggers are not merely early warning indicators This distinction is important because: - Symptoms help with risk monitoring and early detection - Triggers help determine when to implement specific risk response strategies - Understanding this relationship enables better risk identification and control

Correct Answer: A predefined warning sign that indicates when a risk is about to occur

A trigger threshold in risk management is most effectively described as a predefined warning sign that indicates when a risk is about to occur. This is the most accurate definition because: It emphasizes the preventive nature of risk monitoring by identifying warning signs before the risk materializes It focuses on the early detection aspect that allows for proactive risk response It aligns with PMI's emphasis on proactive risk management The other options are incorrect because: A documented series of risk responses is actually describing the risk response plan, not the trigger threshold itself A mathematical calculation based on probability and impact is describing risk scoring or assessment, not a trigger threshold A metric measuring total accumulated risk exposure is describing overall risk exposure or portfolio risk assessment, not a specific trigger threshold

Correct Answer: Regular monitoring of key performance indicators and thresholds

Regular monitoring of key performance indicators and thresholds is the most effective way to validate risk triggers during project execution for several reasons: 1. It provides early warning signals through measurable metrics 2. It enables proactive response before risks materialize 3. It allows for quantifiable and objective assessment 4. It helps maintain consistent monitoring standards While the other options have merit, they are less effective: Historical data analysis is retrospective and may not reflect current project conditions. Monthly assessments might be too infrequent for effective risk management, as risks can materialize rapidly. Stakeholder feedback and environmental changes, while important, may be subjective and less reliable than concrete KPIs for trigger validation. The key advantage of KPI monitoring is that it provides specific, measurable indicators that can be tracked systematically and consistently throughout project execution, making it the most reliable method for validating risk triggers.