The project manager is reviewing a project's progress and notices that one of the risks has become an issue. What should the project manager do to address the situation?
A.
Schedule a high-priority meeting with the project stakeholders to discuss the issue.
B.
Initiate a change request to obtain additional funds from the management reserve.
C.
Meet with the project team and customer to brainstorm about potential solutions.
D.
Collaborate with the relevant stakeholders on implementing the risk response plan.
When a risk materializes and becomes an issue, the project manager should work with the relevant stakeholders to implement the risk response plan that was prepared during the project’s planning phase. This is in line with the PMI’s principles, which suggest that risks should have predefined response plans that can be activated when they occur. The implementation of the risk response plan is a proactive step to address the issue and mitigate its impact on the project1.
References:
Project Management Institute (PMI) standards and publications.
PMBOK® Guide – Sixth Edition.
“Plan Risk Response for Your Projects” - Project Management Academy2.
“PMP Exam Strategies for Risk Response: Mitigate Risk, Avoid, or Transfer” - Project Management Academy3.
“Risks vs Issues: Why most projects fail” - PMI4.
“The Difference Between Risk and Issues in Project Management” - iZenBridge5.
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit