During the implementation of a project, the project team discovered a new opportunity. After an internal review, the project team agreed that the opportunity is outside of the project scope. The project manager decided to update the risk register and escalate the opportunity to a higher level.
What should the project manager do next with this opportunity?
Once the project manager has identified that the opportunity is outside the project scope and has escalated it to a higher level, there is no further action required from the project manager's side. Monitoring or allocating resources to an opportunity that is outside the project scope would be inefficient and could lead to scope creep. Hence, the correct action is to escalate the opportunity and then take no further action at the project level.
Since the opportunity is outside of the project scope, the project manager should not allocate any project resources to pursue it. However, the project manager should escalate the opportunity to a higher level to ensure that the organization is aware of the potential benefits. Therefore, the best option among the given choices is to further monitor the opportunity. This will enable the organization to evaluate the opportunity and determine if it is worth pursuing.
Both opportunities and threats should be updated to risk register which is a WIP document and need to be reviewed and monitor through out the project.
7. While the escalation is underway, don't stop working the plan of record. No one can predict for certain the outcome of an escalation, so it's typically best to keep everyone marching together until an official decision has been made. From PMI. It must be C. JUST A TIP. IF YOU ARE NOT SURE JUST DO Q QUICK INTERNET SEARCH LIKE: "insert keyword here" PMI project management
A is correct you escalate it because it is out of your authority so, monitoring it is waist of time. if a PM suggest an opportunity in your project would you let him monitor it !!
We identify,review,communicate,escalate and await resolution from top management.So 'A' is correct.
Shouldn't you monitor your risks that are in the register?
Once risk is escalated there is no more need to monitor it as it's not in your control anymore.
A. No more action is required.
Further monitoring is scope creep. The project manager is spending time and money monitoring it. No further action is required.
Why not B? Option B can help other projects.
I chose C
the project manager needs to communicate the risk to the new risk owner and ensure that they actively accept responsibility for its management. At this point the risk can be removed from the project’s active Risk Register, and it will be entered into the Risk Register at the level where it belongs.
the project manager should ensure that the opportunity is appropriately evaluated, documented, and communicated to the relevant stakeholders or decision-makers through the established change control and governance processes. So no more action required.
C. Further monitor the opportunity
Once it is the risk register I guess it's just normal to check it from time to time... it doesn't say that you have to go crazy with that opportunity but keep an eye on it. Do not just pass youR work forward and say "ok, work done"
A is correct
I suppose that every records in the risk register needs to be monitored
Although the opportunity is out of scope, but the team decided to add it to risk register and escalate to higher level, so we have to monitor it and get responding from higher level. This is opportunity risk and will increase the value for project.