PMP Certification: Implement Risk Responses (based on PMBOK® Guide, 6th Edition)

— (updated )
  • WHAT Implement Risk Responses Is. Implement Risk Responses implies determining every possible potential opportunity or threat that might affect the project objectives.
  • WHY Implement Risk Responses Is Important. Risks identification is the first step for putting together a risk register that prevents and minimizes unexpected problems for the project. Project managers cannot plan for risks until they have addressed which threats or opportunities they are likely to run into.
  • WHEN Implement Risk Responses Is Executed. Implement Risk Responses is an iterative process that continually builds on itself, since uncertainty, and thus risk for the project, can occur at any time and in any other part of the project.  Yet, in a typical project most of the risk identification activity takes place during planning.
  • HOW Implement Risk Responses Operates.

Project Risk Management (by Process Groups) — PMBOK® Guide, 6th Edition Update

Plan Risk Management

Identify Risks

Perform Qualitative Risk Analysis

Perform Quantitative Risk Analysis

Plan Risk Responses

Implement Risk Responses 

Monitor Risks

Click here for a detailed analysis of each project management process group and knowledge area.

pmp certification implement risk responses pmbok 6th edition tipsographic download free

Implement Risk Responses 101

What Does Implement Risk Responses Involve and When Do You Perform It in a Project Life Cycle?

  • WHAT Implement Risk Responses Is. Monitor Risk implies ensuring that the implemented project risk management activities are in accordance with the risk management plan and the information contained within the risk register.
  • WHY Implement Risk Responses Is Important. By constantly going over all the project data, a project manager is able to react quickly either in case of new risk or if a response strategy has to be set in motion.
  • WHEN Implement Risk Responses Is Executed. Monitoring and controlling risks is an ongoing concern that span throughout the entire life of the project and is carried out during the day-to-day work.
  • HOW Implement Risk Responses Operates.
InputsTools and techniquesOutputs
  1. Project management plan
    • Risk management plan
  2. Project documents
    • Lessons learned register
    • Risk register
    • Risk report
  3. Organizational process assets
  1. Expert judgment
  2. Interpersonal and team skills
    • Influencing
  3. Project management
    information system
  1. Change requests
  2. Project documents updates
    • Issue log
    • Lessons learned register
    • Project team assignments
    • Risk register
    • Risk report

Source: PMBOK® Guide, 6th ed., Chapter 11, section 11.6, p. 449.

Implement Risk Responses Key Terms

What Are the Key Terms to Fully Understand the Process of Implementing Risk Responses?

  • Reserve Analysis. An analytical technique that takes care of uncertainty by adding extra time – also called buffers or time reserves – to the schedule or extra cost, as either contingency or management reserves.
  • pmp iimplement risk responses pmbok 6th edition tipsographic download freeRisk Audits. An analysis of the effectiveness of risk response strategies conducted by a third party.
  • Risk Reassessment. An ongoing process, led by the project manager and involving the project team, which reviews the information recorded in the risk register to make sure that identified individual risks, their probability and impact, and the prepared risk responses are still current and appropriate. Likewise, risk assessment uncovers any new risk that may have arisen.
  • Status Meetings. Meetings scheduled regularly throughout the entire project that focus upon a particular project status metric, such as risk management activities.
  • Technical Performance Measurement. A tool that compares the actual performance of the project with the predetermined parameters, to initiate particular risk strategies in case of deviance.
  • Trend Analysis. A statistical forecasting technique for identifying any trends and observed data and predicting from this a likely future outcome.
  • Variance Analysis. A tool to spot and analyze the differences between what somebody planned to do against what somebody is actually doing.

Implement Risk Responses Tips

What Are the Best Tips to Answer Correctly the PMP Certification Exam Questions on Implement Risk Responses Process?

  • Assumption Reassessment. Besides the risk register, a project manager needs to review the assumption log. The process of reassessing project assumptions tracks new assumptions, verifies existence and validity of existing factors, and closes assumptions no more true, real, or certain.
  • Flow of Work Performance Measurements. Work performance data becomes work performance information, which turns into work performance reports.
  • Reallocation of Reserves Not Used. A project manager must return time and cost reserves associated with identified risks that did not occur to the company, rather than use them on other issues arising from the same project.

Click here for a detailed analysis of each project management process group and knowledge area.

SOURCES: Project Management Institute (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide). 6th ed. Newtown Square: Project Management Institute.

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