Implementing Risk Responses

Correct Answer: Update the risk register and notify all stakeholders via formal change control

The most appropriate way to document risk ownership changes is to update the risk register and notify all stakeholders through formal change control processes. This is the best practice because: - It ensures proper documentation in the official project document (risk register) - It follows formal change control procedures, maintaining project governance - It ensures all stakeholders are properly informed through official channels - It maintains an audit trail of the changes The other options are inadequate because: - Creating a new risk response plan is excessive and unnecessary - the existing risk register should be updated - Sending informal emails does not provide adequate documentation and may miss key stakeholders - Using only the lessons learned repository is inappropriate as this is primarily for future reference, not active risk management Proper risk ownership documentation requires formal processes and comprehensive stakeholder communication through official channels, making the risk register update with formal change control the most appropriate approach.

Correct Answer: Regular assessment of risk appetite metrics against response outcomes

Regular assessment of risk appetite metrics against response outcomes is the best approach because: It specifically focuses on the alignment between organizational risk thresholds (risk appetite) and the actual response actions taken. This approach ensures that: - Response actions stay within acceptable organizational risk limits - There is continuous validation of response effectiveness against set risk tolerance levels - It helps maintain strategic alignment with organizational objectives Why other options are less suitable: Continuous monitoring of all project performance indicators is too broad and doesn't specifically focus on risk thresholds. Detailed evaluation of costs vs. benefits is important but doesn't directly address alignment with risk thresholds. Weekly updates of risk registers is more about documentation and tracking rather than validating alignment with organizational risk thresholds.

Correct Answer: Assign ownership based on the department most capable of implementing mitigation actions

The best practice for managing cross-departmental risks is to assign ownership to the department most capable of implementing mitigation actions. This approach ensures: 1. Clear accountability for risk management 2. Efficient resource utilization 3. Expertise-driven decision making 4. Effective implementation of risk responses Why other approaches are less effective: Distributing ownership equally can lead to confusion, delayed decision-making, and diffused responsibility, potentially resulting in inaction. Assigning ownership based on budget allocation fails to consider technical expertise and operational capability, which are more important factors for effective risk management. Transferring ownership to PMO creates an unnecessary layer of bureaucracy and removes responsibility from departments with direct operational control and subject matter expertise. The PMO should coordinate and facilitate, not own risks that require specific departmental knowledge.