Project Management Professional (PMP) Practice Exam

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Study for the Project Management Professional (PMP) exam. Study with flashcards and multiple choice questions. With over 500 questions. Practice the PMP practice multiple choice questions. Updated for 2023-2025. Get ready for your exam!

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As the project manager in a software project which is currently initiated, you want to assess high-level risks. What should you do?

Develop the project charter and a risk management plan to start identifying risks based on those and other documents.
Identify and analyze risk events using qualitative and quantitative techniques.
Develop contingency plans and fallback plans in case the original plan proves wrong.
Discuss the risks documented in your Risk register with the project key stakeholders.

The correct answer is: Develop the project charter and a risk management plan to start identifying risks based on those and other documents.

As a project manager in a software project that has just begun, your first step in assessing high-level risks is to develop the project charter and a risk management plan. This helps you to gain a better understanding of the project scope and objectives, which will aid in identifying potential risks. Option B, identifying and analyzing risk events, may be a valid step later in the project once more information has been gathered. Option C, developing contingency and fallback plans, is important but should come after risk identification and analysis. Option D, discussing risks with stakeholders, is important but should also come after identification and analysis in order to have a more informed discussion. Therefore, option A is the best starting point for assessing high-level risks in a newly initiated software project.