ProcessAssess and manage riskseasy
During execution, a team member identifies a potential supply constraint that could delay a future activity. The risk was not identified during planning. What should the project manager do?
- ATake no action, since the risk was not part of the approved risk management plan.
- BRecord the risk in the risk register, analyze it, and determine an appropriate response.
- CImmediately add contingency funds to cover the potential delay.
- DWait until the constraint materializes and then manage it as an issue.
Explanation
Correct answer: BRisk identification is continuous throughout the project, and newly identified risks enter the same analysis and response process.
- A
- Risks that emerge after planning are expected and must still be managed; the plan describes how to manage risk, not a closed list of risks.
- B
- Correct. Recording, analyzing, and responding is the standard treatment for any newly identified risk, whenever it surfaces.
- C
- Committing reserve before the risk has been analyzed is premature and may not be warranted or approved.
- D
- Deliberately waiting for a known threat to occur forfeits the chance to prevent or reduce it.