A project's closing date is in December. During the risk identification process, a team member notifies the rest of the project team that a November launch would increase the product acceptance by…

The correct answer is B. Crash the schedule. Exploiting an opportunity in risk management means taking deliberate action to ensure the opportunity is realized - in this case, accelerating the project to achieve a November launch. Once the team agrees to exploit the opportunity, the immediate next action is to compress the…

Project management concepts

Question

A project's closing date is in December. During the risk identification process, a team member notifies the rest of the project team that a November launch would increase the product acceptance by 50%, based on market research. The project team agrees to exploit the opportunity. Which of the following should be performed NEXT?

Options

ACommunicate to the stakeholders.
BCrash the schedule.
CPerform a quantitative analysis.
DTrigger the incident response plan.

How the community answered

(24 responses)

A
8% (2)
B
83% (20)
C
4% (1)
D
4% (1)

Explanation

Exploiting an opportunity in risk management means taking deliberate action to ensure the opportunity is realized - in this case, accelerating the project to achieve a November launch. Once the team agrees to exploit the opportunity, the immediate next action is to compress the schedule, and crashing (adding resources to critical path tasks to shorten duration) is the standard technique for doing so. Communicating to stakeholders (A) is important but follows the creation of a revised plan. A quantitative analysis (C) would have been done before the team decided to exploit the opportunity. Triggering an incident response plan (D) is for negative events (threats), not positive opportunities.

Topics

#risk management#opportunity response#schedule crashing#risk exploitation

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