Risk is a favourite of the long-response questions, so precision pays. You need the full risk process, the difference between a risk and an issue, and the four (or more) response strategies for threats and for opportunities — applied to a scenario rather than merely listed.
What risk covers in the PMQ
- The risk management process: identify, assess, plan responses, implement, review
- Qualitative and quantitative risk analysis, probability and impact
- Threat responses: avoid, reduce, transfer, accept — and opportunity responses: exploit, enhance, share, reject
- Risk owners, the risk register and contingency and management reserves
- The difference between a risk (may happen) and an issue (has happened)
Where candidates lose marks
Treating a risk and an issue as the same. A risk is uncertain; an issue has already occurred.
Confusing 'transfer' with 'avoid'. Transfer moves the impact (e.g. insurance); avoid removes the cause.
Forgetting opportunities. Risk management addresses upside as well as downside.
Free, timed, exam-style questions across the twelve PMQ topics — with an explanation for every answer and a per-topic breakdown at the end.
Start a free practice testRisk questions, answered
What is the difference between a risk and an issue?
A risk is uncertain — it may or may not happen. An issue has already happened and needs managing now. Treating the two as the same is one of the most common mistakes in this area.
What are the threat and opportunity response strategies?
For threats: avoid, reduce (mitigate), transfer, accept. For opportunities: exploit, enhance, share, reject. Risk management deals with upside as well as downside — forgetting the opportunity responses loses marks.
The other eleven topics
Independent study material, not affiliated with or endorsed by APM. Always check the official APM website for the current syllabus. APM does not publish a fixed pass mark for the PMQ.