PMI Risk Management Professional Practice Exam

If an organization is risk-averse, what should they do when there is an opportunity to change the project management plan?

1. Pursue the opportunity as is if the sponsor approves it

2. Avoid the opportunity

3. Pursue the opportunity as is if the change control board approves it

4. Pursue the opportunity if the risks can be eliminated

The correct answer is: Pursue the opportunity as is if the change control board approves it

In the context of a risk-averse organization, pursuing an opportunity to change the project management plan hinges on approval from a governance body, such as the change control board. This approach ensures that any decision made is thoroughly vetted and aligned with the organization's risk tolerance and strategic objectives. A risk-averse organization typically seeks to minimize risks and uncertainties. Therefore, by requiring the endorsement of the change control board before making any adjustments, the organization can assess potential impacts, analyze any associated risks, and ensure that changes do not jeopardize project objectives. This offers a structured framework for evaluating opportunities while maintaining a cautious stance. In contrast, an unmoderated pursuit of an opportunity, whether by the sponsor or else, could lead to decisions that introduce unforeseen risks, which a risk-averse organization aims to avoid. This underscores the importance of adhering to established governance processes to safeguard against adverse consequences. Thus, involving the change control board in the decision-making process aligns with the organization's risk management framework and helps maintain strategic oversight.