It is now late October and the project is in stage 3
The label design competition has been held and the photos of the staff have been taken.
The CEO and Marketing Director still need to choose the winning label design and the 12 photos for the calendar.
However, the Executive has learned that two competitors are issuing calendars to MNO's customers by the middle of November.
After analyzing the impact of this Issue, one of the options the Project Manager has presented to the Project Board is to close the project prematurely.
There are a number of key facts relating to this project that would need to be recorded if the project Y-e to be closed now.
Which product should register that the risk of a competitor producing a calendar at the same time was identified at the beginning of the project but the assessment of this risk appears to have been poor?
Click on the arrows to vote for the correct answer
A. B. C. D.C.
The key fact that needs to be recorded if the project is closed prematurely due to the competitor issuing calendars is that the risk of a competitor producing a calendar at the same time was identified at the beginning of the project but the assessment of this risk appears to have been poor. This information is related to the risk management aspect of the project.
The risk management process involves identifying, assessing, and mitigating risks that can impact the project's success. The Risk Register is the key document that records all identified risks, their likelihood, impact, and planned response strategies. In this case, the risk of a competitor producing a calendar at the same time was identified at the beginning of the project but was not assessed properly, which means that the impact of the risk was not fully understood, and the risk response plan was not adequate.
Therefore, the information about the poor assessment of the risk should be recorded in the Risk Register. The Risk Register is a living document that is regularly updated throughout the project lifecycle to reflect any new risks, changes in risk likelihood or impact, and updated risk response strategies.
The Issue Register, on the other hand, is used to document any issues that arise during the project that may require action. An issue is an unplanned event or situation that affects the project's progress or success. In this case, the competitor issuing calendars is not an issue but a risk that was identified but not adequately addressed.
Follow-on action recommendations are documented in the Lessons Report, which is prepared at the end of the project to capture the project's successes, challenges, and lessons learned. The Lessons Report provides recommendations for future projects based on the experiences and knowledge gained during the project.
Therefore, the correct answer to the question is D. Risk Register.