During project planning, a risk is identified for which the risk manager has defined a mitigation strategy. Later during project execution, this risk still leaves substantial residual risk.
What should the risk manager do to handle this situation?
A.
Ask the project sponsor for more budget to deal with this risk.
B.
Revisit this risk in the risk register and redefine the mitigation strategy.
C.
Mark this new risk as an extremely high priority and inform all stakeholders.
D.
Activate the contingency plan to handle this risk during execution.
When a mitigation strategy still leaves a substantial residual risk, the contingency plan should be activated to address the potential impact of the risk. The contingency plan is specifically designed to manage risks that remain after mitigation efforts.
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Amakancn
4 weeks, 1 day ago