The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.
Which 2 statements should be recorded under either the Records or Reporting headings?
The two statements that should be recorded under either the Records or Reporting headings are: 'The evaluated net effect of all risks will be updated at the end of each stage and included in the End Stage Report,' and 'A summary of risks will be maintained and included with the monthly Highlight Reports to the Project Board.' These ensure that the impacts of risks are regularly assessed, recorded, and communicated to key stakeholders, which is essential for the project's risk management.
Should be BE
I also answered B,E
Statement B. The evaluated net effect of all risks will be updated at the end of each stage and included in the End Stage Report ensures that the impact of all risks, including the new threat, is assessed and reported at the end of each stage. This allows for a comprehensive review of how risks have affected the project so far and what can be expected in the next stage. Statement E. A summary of risks will be maintained and included with the monthly Highlight Reports to the Project Board ensures regular reporting of risks to the Project Board. This keeps them informed about potential issues, including the new threat, that could impact the project’s objectives.
While maintaining the Risk Register (statement A) is a fundamental part of risk management, it doesn't directly address the immediate concern of assessing and reporting on the impact of the competitor's calendar release. Statements B and E focus on how to specifically handle and report on risks, which is more aligned with the immediate threat scenario described in the question.
Correct Answer : B & E
C is not a correct answer. Change is related to Issues but the question is related to Risk