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Question 1002 - PMP discussion

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A project team has identified a risk and wants to accept it as an opportunity to finish a project earlier than planned. The project manager realizes that the sponsor may not accept the risk since the sponsor is risk averse.

What should the project manager do?

A.
Create a contingency reserve to cover the risk in order to ensure that the risk will be accepted.
Answers
A.
Create a contingency reserve to cover the risk in order to ensure that the risk will be accepted.
B.
Conduct a Monte Carlo analysis to determine if the team will complete the project early.
Answers
B.
Conduct a Monte Carlo analysis to determine if the team will complete the project early.
C.
Explain to the sponsor that this is a nonevent type of risk and it will be fine to accept it.
Answers
C.
Explain to the sponsor that this is a nonevent type of risk and it will be fine to accept it.
D.
Convince the sponsor that this will cost less, ultimately resulting in more profit for the sponsor.
Answers
D.
Convince the sponsor that this will cost less, ultimately resulting in more profit for the sponsor.
Suggested answer: D
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asked 23/09/2024
Daniel Skow
32 questions
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