Practice Quiz

Risk Management Professional Exam Prep

Category - Risk Management

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The project planning process involves a lot of redundancy, checking and reviewing of plan details; however, to be most effective you shouldn’t publish your proposed project plan until after this important step:
  1. Risk assessment
  2. Segmenting of the WBS into smaller, workable pieces
  3. Receipt of resource commitments
  4. Creation of a budget
  5. None of the above
Explanation
Answer: A - You should wait until risk management principles have been applied to your project before revisiting your plan, since it’s only at this stage that the final project price tag and timeline can be determined.

Segmenting the WBS, receiving resource commitments, and creating the project budget all happen in the planning phase, but before risk assessment.

Key Take Away: Half of executives in a particular survey believed their company lacked discipline with respect to project management. Don’t be among this 50%. It’s important to follow-through on all aspects of your project plans at the appropriate time.
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