After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the…

According to the PMBOK Guide, risk prioritization is the process of assigning a level of importance to

each identified risk based on its probability and impact, as well as other factors such as urgency,

stakeholder tolerance, and project objectives. Risk prioritization helps the project team to focus on

the most significant risks and allocate resources accordingly. One of the tools and techniques for risk

prioritization is stakeholder engagement, which involves involving the key stakeholders in the risk

analysis and decision making process. Stakeholder engagement helps to ensure that the risk

prioritization reflects the expectations and p

of the stakeholders, and that they are aware

of and agree with the results. By engaging the key stakeholders during the prioritization process, the

risk manager could have avoided the board’s request to sort the risks differently, as the board would

have been part of the process and would have accepted the outcome. Reference: = PMBOK Guide,

6th edition, pages 406-407; The Standard for Risk Management in Portfolios, Programs, and Projects,

page 67.