Homework SourseThe project officer is considering whether to purchase an ex
| The project officer is considering whether to purchase an extended warranty for a commercial off-the-shelf item. What step of the risk management process is being performed? Select one of the following: |
| Risk identification |
| Risk mitigation planning |
| Risk mitigation plan implementation |
| Risk analysis |
| The project officer is considering whether to purchase an extended warranty for a commercial off-the-shelf item. What step of the risk management process is being performed? Select one of the following: |
| Risk identification |
| Risk mitigation planning |
| Risk mitigation plan implementation |
| Risk analysis |
Solution
Risk identification identifies the risk and ensures that the organization is aware of the risk. In this case the risk identification has been done by identifying the need (or no need) for the warranty.
Risk mitigation planning looks at developing actions to reduce threats to project objectives. Considering whether to buy extended warranty or not is a part of risk mitigation planning as the project officer is looking at options that may reduce the risk. Buying extended warranty is just one of the options.
Risk mitigation plan implementation is actual implementation of the option plan selected. Here the project manager has not selected and finalized his option, so it cannot be implementation.
So, the answer is \"Risk mitigation planning\".
