During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring. Which action should the risk manager take to address this risk?

The scenario occurs during the Identify Risks process. According to standard project risk management methodology, any potential risk identified during brainstorming must first be documented in the risk register. This action ensures the risk is formally captured. The subsequent processes, Perform Qualitative and Quantitative Risk Analysis, will use the risk register to objectively assess the probability and impact of this and all other identified risks. This data-driven analysis will determine its priority and the appropriate response, resolving the stakeholder disagreement based on a formal assessment rather than subjective opinions. Acting on a response strategy like acceptance, mitigation, or escalation before analysis is premature and procedurally incorrect.

A. Accepting a risk is a response strategy determined only after a thorough analysis of its probability and impact, not during the identification phase.
B. Mitigating a risk is a response strategy. The decision to mitigate is made after the risk has been analyzed and prioritized, not based on a single stakeholder's opinion.
C. Escalating a risk is a specific response strategy for risks outside the project manager's authority; this is not indicated and is premature before analysis.

1. Project Management Institute. (2019). The Standard for Risk Management in Portfolios, Programs, and Projects. Newtown Square, PA: Project Management Institute. See Section 4.3, "Identify Risks," which states that a key output is the initial entry of risks into the risk register (p. 49), which then serves as an input to the analysis processes (p. 57).

2. Hillson, D. (2002). The Risk Breakdown Structure (RBS) as an Aid to Effective Risk Management. Project Management Institute Annual Seminars & Symposium. DOI: 10.14802/pmi.v3i1.368. The paper emphasizes a structured approach where identification precedes analysis, with all identified risks being captured for subsequent review.

3. Chapman, C., & Ward, S. (2003). Project Risk Management: Processes, Techniques and Insights (2nd ed.). Wiley. Chapter 6, "The risk management process: a framework," outlines the sequence of risk management, where risk identification and structuring (including logging in a register) must precede analysis and response planning.