Risk Audits and Reviews

Correct Answer: The Risk Management Team Lead

The Risk Management Team Lead is the correct answer because they are the primary individual responsible for the risk management process and its continuous improvement. The Risk Management Team Lead maintains oversight of risk-related activities and is best positioned to identify, document, and implement lessons learned from risk reviews. They have the expertise and organizational role to ensure these insights are properly captured and integrated into future risk management practices. Other options are incorrect because: The Project Steering Committee typically provides high-level oversight and strategic direction rather than handling detailed documentation of lessons learned. While the Project Manager and Quality Assurance Department contribute to risk management, they are not primarily responsible for documenting risk management lessons learned. The Senior Management Team focuses on strategic risks and overall governance rather than detailed documentation of operational risk lessons learned.

Correct Answer: The Quality Assurance Manager in collaboration with the Risk Manager

The Quality Assurance Manager, working with the Risk Manager, is the correct choice for evaluating project risk response documentation during periodic quality assurance reviews because: 1. Quality Assurance focuses on evaluating the completeness and effectiveness of processes and documentation 2. The Risk Manager has the expertise to assess risk-related content 3. This collaboration ensures both quality standards and risk management requirements are met Other options are incorrect because: - Project Managers are responsible for overall project success but typically delegate specialized QA reviews to appropriate experts - Risk Management Committee operates at a higher strategic level and isn't involved in detailed documentation reviews - Project Sponsor's role is to provide high-level oversight and support, not to conduct detailed quality reviews of documentation The collaboration between QA Manager and Risk Manager provides the right balance of quality oversight and risk management expertise needed for these reviews.

Correct Answer: The Risk Management Committee

The Risk Management Committee is the correct answer because they have the organizational authority and responsibility to oversee risk management practices across the enterprise. Key reasons why this is correct: - They establish and maintain risk management standards - They ensure consistency in risk assessment methods - They have the authority to validate and approve risk measurement criteria - They provide governance over risk management processes Why other options are incorrect: The PMO Director and team, while involved in risk management, typically implement rather than validate criteria. The Project Sponsor focuses on project-specific risks and may not have the broader organizational perspective needed for establishing enterprise-wide criteria. The Risk Governance Board with external consultants may provide input, but the ultimate responsibility lies with the internal Risk Management Committee who understands the organization's risk appetite and culture.