When should the project manager identify the project risks?

A project manager is assigned to a new project and is told they need to develop the project’s risk register.

When should the project manager identify the project risks?
A . Identify risks only at the project’s midpoint for the stakeholders to review them
B . Ensure project team members proactively identify risks throughout the project to plan for possible response strategies
C . Identify risks at the beginning of the project because the risk posture will not change
D . Delegate risk identification to each team member and have them record the risks on separate risk registers for their areas

View Answer

Answer: B

Explanation:

Risk identification should be an ongoing process throughout the project lifecycle. Encouraging project team members to proactively identify risks allows for continuous risk management and the development of appropriate response strategies as new risks emerge.

According to the PMI Risk Management Professional (PMI-RMP) ® Examination Content Outline1, one of the tasks in the domain of Risk Identification is to ensure that project team members proactively identify risks throughout the project life cycle, using various tools and techniques, to enable planning for possible risk response strategies 1. Risk identification is an iterative process that should be performed regularly and frequently throughout the project, as new risks may emerge or existing risks may change due to internal or external factors2. The project manager should involve the project team members and other relevant stakeholders in the risk identification process, as they may have different perspectives, expertise, and insights on the project risks3. The project manager should not identify risks only at the project’s midpoint for the stakeholders to review them, because that would be too late and ineffective to manage the risks that may have already occurred or escalated4. The project manager should not identify risks at the beginning of the project because the risk posture will not change, because that would be unrealistic and imprudent to assume that the project environment and conditions will remain static and predictable5. The project manager should not delegate risk identification to each team member and have them record the risks on separate risk registers for their areas, because that would create inconsistency, duplication, and fragmentation of the risk information, and prevent a holistic and integrated view of the project risks.

Reference: 1: PMI Risk Management Professional (PMI-RMP) ® Examination Content Outline, page 82: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 3983: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 3994: Risk Identification: When and How Often to Do It During the Project Life Cycle5: Risk Management: Why Is It Important?. : Risk Register in Project Management – Project Management Academy.