During the final plan review, Program risks are addressed using ROAM. What do the letters in ROAM represent?
During the final plan review, Program risks are addressed using ROAM. What do the letters in ROAM represent?
OPTIONS
- Resolved, Owned, Accepted, Mitigated
- Relegated, Owned, Approved, Managed
- Accepted, Redesigned, Ordered, Mitigated
- Managed, Resolved, Ordered, Accepted
Answer:
Resolved, Owned, Accepted, Mitigated
Explanation:
The ROAM framework provides a structured approach to risk management and helps organizations ensure that all potential risks are considered and evaluated. By categorizing risks into Resolved, Owned, Accepted, and Mitigated, project teams can develop plans to manage risks and prevent potential issues from impacting the success of the project.
The Resolved category represents risks that have been fully addressed and eliminated. Owned risks are those that have been identified and assigned to a specific individual or team to manage. Accepted risks are those that the project team has decided to accept and not actively manage, but are monitored to ensure that the impact is within acceptable limits. Mitigated risks are those that have been addressed and reduced to an acceptable level.
In summary, the ROAM framework is a useful tool for project managers and teams to manage risks and ensure the success of their projects.
