You work as a project manager for Bluewell Inc.
You have identified a project risk.
You have then implemented the risk action plan and it turn out to be non- effective.
What type of plan you should implement in such case?
Click on the arrows to vote for the correct answer
A. B. C. D.B.
A risk fallback plan is a proper plan devised to identify definite action to be taken if the risk action plan (Risk Mitigation Plan) is not helpful.
Fallback plan is important in Risk Response Planning.
If the contingency plan for a risk is not successful, then the project team implements the fallback plan.
Fall-back planning is intended for a known and specific activity that may perhaps fail to produce desired outcome.
It is related with technical procedures and with the responsibility of the technical lead.
Incorrect Answers: A, C, D: These all choices itself comes under risk action plan.
As in the described scenario, risk action plan is not turned to be effective, these should not be implemented again.
If the implemented risk action plan turns out to be non-effective, the project manager should consider implementing a fallback plan, which is also known as a contingency plan or a backup plan. The fallback plan is a pre-determined set of actions that can be taken in case the initial risk action plan fails or the risk occurs.
A fallback plan is an essential element of risk management that provides an alternative course of action if the original risk action plan does not work or if the risk occurs despite the preventive measures taken. The fallback plan should be developed in advance and should be based on the probability and impact of the risk.
The fallback plan should be documented and communicated to all stakeholders, including the project team, management, and customers, so that everyone is aware of what to do in case the original plan fails. The fallback plan should also include specific triggers that would indicate when it is time to implement the plan.
In contrast to a risk response plan, which outlines how to deal with risks that have not yet occurred, the fallback plan is put in place after a risk has occurred, or after the original risk action plan has failed.
Therefore, option B. Risk fallback plan is the correct choice in this scenario.