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A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a 50% chance of rain, construction should continue. Another stakeholder says that if there is less than a 60% chance of rain, construction should continue.
What should the risk manager do next to find out the correct limit?
Suggested Answer: A
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35 comments · newest first
LA
Laquanda
11 months ago
Nah, I think understanding the stakeholders' appetite is key here.
TI
Titus
11 months ago
I’d go with industry standards, they usually have solid data.
RO
Rosio
12 months ago
Wait, how do we even know what the right threshold is?
RE
Reuben
12 months ago
Definitely agree, 50% sounds reasonable!
KA
Kassandra
1 year ago
I think they should check the agreed-upon risk tolerance.
RE
Reed
1 year ago
I feel like performing a sensitivity analysis could be useful, but I’m not confident if it’s the right approach for this specific scenario.
SC
Scarlet
1 year ago
This reminds me of a practice question where we had to analyze risk thresholds. Using industry standards could provide a solid basis for decision-making here.
DA
Danilo
1 year ago
I'm not entirely sure, but I think reviewing the agreed-upon risk tolerance might be the best first step to resolve their differing opinions.
JO
Jordan
1 year ago
I remember we discussed the importance of understanding stakeholder perspectives, so maybe finding out their risk appetite could help clarify this situation.
LI
Lizbeth
1 year ago
Based on the details provided, I think the best next step would be to review the agreed-upon risk tolerance for the project. That should help me determine the correct limit to use.
JO
Jonelle
1 year ago
I'm a bit confused by the conflicting information from the stakeholders. I'll need to do some additional research to determine the appropriate risk threshold for this project.
DO
Domitila
1 year ago
Okay, let's see. The stakeholders have different views on the rain probability threshold. I think I need to dig deeper into their risk tolerance and appetite to find the right approach.
JA
Jarod
1 year ago
This seems like a tricky one. I'll need to carefully review the details and think through the different options.
RA
Rachael
1 year ago
I'm pretty confident about this one. The Scrum Guide states that only the Product Owner can cancel a Sprint, so I'm going with option C.
CA
Carolann
2 years ago
Wait, did someone say 'rain'? Time to break out the umbrellas, folks! I wonder if the risk manager can do a rain dance to influence the weather.
AU
Augustine
1 year ago
C: Find out the stakeholders' risk appetite
GL
Gladis
1 year ago
B: Perform a sensitivity analysis of the risk
MA
Marylou
1 year ago
A: Review the agreed-upon risk tolerance
SA
Sabine
2 years ago
Nah, nah, the answer is clearly using industry standard risk thresholds. Can't go wrong with the tried and true, am I right?
CA
Cary
1 year ago
C: Actually, I believe using industry standard risk thresholds is the way to go.
JE
Jeanice
1 year ago
B: No way, we should definitely perform a sensitivity analysis of the risk.
NO
Noelia
1 year ago
A: I think we should review the agreed-upon risk tolerance.
GL
Gladis
2 years ago
Hold up, I reckon the risk manager should find out the stakeholders' risk appetite. That's the key to understanding what they're really looking for here.
YO
Yong
1 year ago
D: Use industry standard risk thresholds
DA
Dannette
2 years ago
C: Find out the stakeholders' risk appetite
FE
Felton
2 years ago
B: Perform a sensitivity analysis of the risk
AL
Aleta
2 years ago
A: Review the agreed-upon risk tolerance
LE
Leigha
2 years ago
Well, if you ask me, the risk manager should perform a sensitivity analysis of the risk. That way, they can really get a grip on the situation and make an informed decision.
KE
Kenny
2 years ago
But shouldn't the risk manager also consider the stakeholders' risk appetite to make an informed decision?
BR
Broderick
2 years ago
Hmm, this is a tricky one. I think the risk manager should review the agreed-upon risk tolerance to find the correct limit. Gotta stick to the plan, you know?
DE
Derick
2 years ago
I agree with Dong. It's important to stick to what has been agreed upon.
DO
Dong
2 years ago
I think the risk manager should review the agreed-upon risk tolerance.
IR
Irene
2 years ago
But what if the stakeholders' risk appetite is different? Maybe we should find that out first.
BO
Bobbye
2 years ago
I agree with Merilyn. It's important to stick to the agreed limits.
ME
Merilyn
2 years ago
I think the risk manager should review the agreed-upon risk tolerance.