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Question 62

A six-month, USS1.2 million project is two months completed. The project has 3 high, 6 medium, and 2 low risks, with a 10% reserve for known risks, and a 5% reserve for unknown risks. Most of the project's reserves have not been spent. The risk manager, who is also the project schedule manager, establishes monthly risk management reviews to evaluate performance. So far, the project has missed 50% of the planned risk mitigation milestones.

Based on this project data, what technique should the risk manager recommend to improve the risk management process?

    Correct Answer: C

    The project's reserves have not been fully spent, indicating that the issue is not a lack of reserves but rather a need for better monitoring and management of risks. Missed risk mitigation milestones suggest that the current risk management process might not be sufficiently rigorous or frequent enough. Increasing the frequency of risk status meetings and updating the risk management plan will provide more regular oversight and adjustments, which can improve risk mitigation efforts and overall project performance.

Discussion
TheAWSGuruOption: C

C is the right answer

AzharmakOption: C

How can Ans. be D? Already the available reserves have not been consumed so you don't need more reserves. Ans should be C

Linkedin_Dario_CondeOption: C

Frequency of meetings will improve the process

OMG4567Option: C

There is no evidence that increased reserves will help since its mentioned that most of the reserves are not spent. Also performing a variance analysis doesn't help the process. The solution with the future in mind is C - Increasing the frequency of meetings will help to improve the process.

hossam83Option: D

D is the best answer