PMI-RMP Question #544: Real Exam Question with Answer & Explanation

Question

A new risk manager has been assigned to a delayed strategic project. The risk manager presented a new plan to get the project back on track using lessons learned and applying risk response strategies. Senior management wants to remove contingency reserves because they want to finish the project earlier. What should the risk manager do in this scenario?

Options

• AReview project schedule estimates.
• BChange the response strategies.
• CReduce the contingency reserves.
• DConduct a risk planning workshop.

Explanation

The risk manager should conduct a risk planning workshop with senior management and other key stakeholders to review the risk management plan, the risk register, and the contingency reserves. The risk manager should explain the purpose and benefits of contingency reserves, and how they are calculated and allocated based on the risk exposure of the project. The risk manager should also discuss the potential impact of removing or reducing the contingency reserves on the project objectives, scope, schedule, cost, and quality. The risk manager should facilitate a collaborative decision-making process to reach a consensus on the best course of action for the project.

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