International Project Management Association (IPMA) Practice Exam

What distinguishes a risk from a problem in project management?

1. Risks cause project failure

2. Risks are always in the future

3. Risks cost more to respond to

4. Risks cannot be ignored

The correct answer is: Risks are always in the future

The distinction between a risk and a problem in project management primarily revolves around the timing and nature of these elements. A risk is characterized as an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Importantly, risks are inherently about the future—they represent potential scenarios that might happen but have not yet occurred. In contrast, a problem is an issue that has already manifested and requires immediate attention or resolution. Therefore, selecting the option that states risks are always in the future highlights this temporal aspect that clearly differentiates risks from problems. It emphasizes that risks are proactive considerations, while problems are reactive situations that need to be dealt with immediately. In looking at other options, while risks can potentially cause project failure, this is not a definitive characteristic that separates them from problems, as problems can also lead to project challenges. The assertion that risks cost more to respond to might hold true in some contexts, but it's not a universal truth that distinguishes them from problems. Lastly, while it’s often advisable to not ignore risks, the possibility exists that some might choose to do so, so stating that risks cannot be ignored does not accurately encapsulate the inherent differences. Thus, the option focusing on the future aspect