PMI Risk Management Professional Practice Exam

After implementing designated risk responses, what is the next step you should take in risk management?

1. Implement more risk responses

2. Analyze project scope creep

3. Identify and analyze any residual and secondary risks

4. Document lessons learned

The correct answer is: Identify and analyze any residual and secondary risks

Once designated risk responses have been implemented, the next step in risk management is to identify and analyze any residual and secondary risks. Residual risks refer to the risks that remain after the primary risk response strategies have been enacted. These are the risks that were not mitigated or eliminated completely through the initial response. Additionally, secondary risks are those that arise as a direct result of implementing the risk responses. For instance, taking a risk response management action may inadvertently introduce new risks to the project. It's vital to recognize these risks to ensure that they are managed appropriately. By carefully analyzing residual and secondary risks, a project manager can assess whether further actions are necessary to mitigate these risks. This analysis maintains the integrity of the risk management process, ensuring that all potential threats to project success are continuously monitored and managed effectively, thereby supporting a proactive risk management approach. Understanding residual and secondary risks also aids in refining future risk responses and may inform adjustments in overall project strategy based on the current risk landscape. This step is essential for ongoing risk management and is crucial for the overall success of the project.