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CGRC · Question #638

Tom is the project manager for his organization. In his project he has recently finished the risk response planning. He tells his manager that he will now need to update the cost and schedule baseline

The correct answer is A. New or omitted work as part of a risk response can cause changes to the cost and/or schedule. Risk response planning can introduce new work or modify existing work to mitigate threats or leverage opportunities, directly impacting the project's cost and schedule baselines.

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Question

Tom is the project manager for his organization. In his project he has recently finished the risk response planning. He tells his manager that he will now need to update the cost and schedule baselines. Why would the risk response planning cause Tom the need to update the cost and schedule baselines? Response:

Options

  • ANew or omitted work as part of a risk response can cause changes to the cost and/or schedule
  • BRisk responses protect the time and investment of the project.
  • CBaselines should not be updated, but refined through versions.
  • DRisk responses may take time and money to implement.

How the community answered

(42 responses)
  • A
    88% (37)
  • B
    2% (1)
  • C
    2% (1)
  • D
    7% (3)

Why each option

Risk response planning can introduce new work or modify existing work to mitigate threats or leverage opportunities, directly impacting the project's cost and schedule baselines.

ANew or omitted work as part of a risk response can cause changes to the cost and/or scheduleCorrect

Implementing planned risk responses, such as performing additional tasks to mitigate a threat or pursuing new activities to capitalize on an opportunity, often requires changes to the project scope. These scope changes, whether adding new work or modifying existing work, will inherently affect the resources needed and the timeline, thereby necessitating an update to the cost and schedule baselines.

BRisk responses protect the time and investment of the project.

While risk responses aim to protect the project, this choice describes the purpose of risk responses, not the reason for updating baselines due to changes they introduce.

CBaselines should not be updated, but refined through versions.

This statement is generally incorrect in project management; baselines are updated through formal change control processes when significant approved changes occur.

DRisk responses may take time and money to implement.

While risk responses do take time and money, this choice is less precise than A because the core reason for updating baselines is the specific new or changed work resulting from the response.

Concept tested: Project risk management - impact on baselines

Topics

#Risk Management#Project Baselines#Cost Management#Schedule Management

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