Updated Risk Register and Mitigation Strategies
Question
Walter is the project manager of a large construction project.
He'll be working with several vendors on the project.
Vendors will be providing materials and labor for several parts of the project.
Some of the works in the project are very dangerous so Walter has implemented safety requirements for all of the vendors and his own project team.
Stakeholders for the project have added new requirements, which have caused new risks in the project.
A vendor has identified a new risk that could affect the project if it comes into fruition.
Walter agrees with the vendor and has updated the risk register and created potential risk responses to mitigate the risk.
What should Walter also update in this scenario considering the risk event?
Answers
Explanations
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A. B. C. D.B.
In this scenario, Walter, the project manager, has identified a new risk that could potentially affect the project if it occurs. He has updated the risk register and created potential risk responses to mitigate the risk. However, in addition to updating the risk register and developing responses, he should also update other project management documents as necessary.
Option A - Project communications plan: The project communications plan is a document that outlines how project information will be communicated to stakeholders. If the new risk event could potentially impact the project schedule or cost, Walter should update the communications plan to ensure that stakeholders are informed of the potential risk and any changes to the project timeline or budget.
Option B - Project management plan: The project management plan is a comprehensive document that outlines how the project will be executed, monitored, and controlled. If the new risk event could potentially impact the project schedule, cost, or quality, Walter should update the project management plan to reflect any changes in the project approach or to incorporate new risk responses to mitigate the risk.
Option C - Project contractual relationship with the vendor: The project contractual relationship with the vendor outlines the terms and conditions of the vendor's involvement in the project. If the new risk event is related to the vendor's scope of work, Walter should review the contract and ensure that the vendor is aware of the potential risk and any changes to the project timeline, scope, or budget that may be necessary.
Option D - Project scope statement: The project scope statement outlines the project objectives, deliverables, and boundaries. If the new risk event could potentially impact the project scope, Walter should update the scope statement to reflect any changes in project objectives or deliverables that may be necessary to mitigate the risk.
In conclusion, Walter should consider updating multiple project management documents, including the project communications plan, project management plan, project contractual relationship with the vendor, and project scope statement, as necessary to reflect the new risk event and any changes that may be necessary to mitigate the risk.
