Table of Contents
Question
A project manager is managing a project with a hybrid approach and has requested a senior team member to perform a quantitative risk analysis. The team member responds that they do not have the knowledge to perform such an analysis. What should the project manager do?
A. Help the team member to perform the quantitative risk analysis through coaching, mentoring, and training
B. Escalate the issue to the functional manager
C. Perform the quantitative risk analysis for the team member
D. Contact the project management office (PMO) and request them to assign another team member who has the knowledge to perform this task to the team
Answer
A. Help the team member to perform the quantitative risk analysis through coaching, mentoring, and training
Explanation
The correct answer is A. Help the team member to perform the quantitative risk analysis through coaching, mentoring, and training.
The project manager should first try to help the team member to perform the quantitative risk analysis. This could involve providing the team member with training on how to perform a quantitative risk analysis, or mentoring them through the process. The project manager could also provide the team member with access to resources, such as books or articles on quantitative risk analysis.
If the team member is still not able to perform the quantitative risk analysis, then the project manager may need to escalate the issue to the functional manager. The functional manager may be able to provide the team member with additional training or resources, or they may be able to assign another team member to perform the quantitative risk analysis.
The project manager should not perform the quantitative risk analysis for the team member. This would not be an effective use of the project manager’s time, and it would not help the team member to develop their skills.
The project manager should also not contact the PMO and request that they assign another team member to perform the quantitative risk analysis. This would be a waste of time, as the PMO would likely be able to provide the same training and resources that the project manager could provide.
Here are some additional tips for coaching and mentoring team members on quantitative risk analysis:
- Start by understanding the team member’s current level of knowledge and skills.
- Break the process of quantitative risk analysis down into smaller, more manageable steps.
- Provide the team member with clear and concise instructions.
- Use examples and illustrations to help the team member understand the concepts.
- Provide the team member with opportunities to practice the skills.
- Provide feedback on the team member’s progress.
Reference
- Quantitative assessment of risks on construction projects using fault tree analysis with hybrid uncertainties | Emerald Insight
- Risk Assessment and Analysis Methods: Qualitative and Quantitative (isaca.org)
- Quantifying risk (pmi.org)
- Project management collaboration: Knowledge sharing among project managers (pmi.org)
- Senior Project Manager: Role Description & Career Tips (monday.com)
- How to Manage Project Risk: A 5-Step Guide | Coursera
Project Management Professional PMI-PMP certification exam practice question and answer (Q&A) dump with detail explanation and reference available free, helpful to pass the Project Management Professional PMI-PMP exam and earn Project Management Professional PMI-PMP certification.