You work as a project manager for BlueWell Inc. You are currently working with the project stakeholders to identify risks in your project. You understand that the qualitative risk assessment and analysis can reflect the attitude of the project team and other stakeholders to risk. Effective assessment of risk requires management of the risk attitudes of the participants. What should you, the project manager, do with assessment of identified risks in consideration of the attitude and bias of the participants towards the project risk?

A.
Evaluate the bias through SWOT for true analysis of the risk events

B.
Evaluate and document the bias towards the risk events

C.
Document the bias for the risk events and communicate the bias with management

D.
Evaluate the bias towards the risk events and correct the assessment accordingly

Explanation:

Negative or positive bias towards risk events should be analyzed and then the risk assessment adjusted accordingly. As establishing definitions of the level of probability and impact can reduce the influence of bias.

Answer option B is incorrect. Documenting the bias does not respond to the bias itself which can affect the ability to effectively manage the risk events.

Answer option C is incorrect. The project manager should address and correct the bias rather than simply communicating the bias to management.

Answer option A is incorrect. SWOT analysis is not needed for the bias towards the project risk.

Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"