PMI Scheduling Professional Certification (PMI-SP) Practice Exam

What is the primary output of the Plan Risk Management process?

1. Risk Assessment Report

2. Risk Management Plan

3. Project Charter

4. Stakeholder Engagement Plan

The correct answer is: Risk Management Plan

The primary output of the Plan Risk Management process is the Risk Management Plan. This plan serves as a comprehensive guide that outlines how risk management activities will be carried out throughout the project. It includes key components such as risk tolerance levels, methodologies for identifying and analyzing risks, roles and responsibilities, and the process for monitoring and controlling risks. The Risk Management Plan ensures that all stakeholders understand how risks will be managed, promoting a proactive approach to risk management rather than a reactive one. This organized strategy is essential to minimize the impact of risks on project objectives and to enhance the likelihood of project success. Other options are not outputs of this particular process. For instance, while the Risk Assessment Report is a critical document, it typically emerges from risk analysis processes rather than the planning stage. The Project Charter, meanwhile, is prepared at the beginning of a project to authorize its existence, and the Stakeholder Engagement Plan focuses on how to effectively engage stakeholders rather than on risk management specifically.