Q. Risk question

Submitted by y0zh on Sat, 05/11/2013 - 15:24

You’re managing a project to fulfill a military contract. Your project team is assembled, and

work has begun. Your government project officer informs you that a supplier that you depend
on has lost the contract to supply a critical part. You consult your risk register and discover that
you did not plan for this. What’s the BEST way to handle this situation?
A. Consult the probability and impact matrix
B. Perform Quantitative and Perform Qualitative Risk Analysis
C. Recommend preventive actions
D. Look for a new supplier for the part
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sanskrit

Sat, 05/11/2013 - 15:50

 A : Is wrong as this risk was not planned, so there won't to be matrix for this

C and D is wrong as you have to analyze the impact before you take action or response

sanskrit

Sat, 05/11/2013 - 15:56

 A : Is wrong as this risk was not planned, so there won't to be matrix for this

C and D is wrong as you have to analyze the impact before you take action or response

y0zh

Sat, 05/11/2013 - 16:51

 You’ve got an unplanned event that’s happened on your

project. Is that a risk? No. It’s a project problem, and
you need to solve that problem. Your probability and
impact matrix won’t help, because the probability of this
happening is 100%—it’s already happened. No amount
of risk planning will prevent or mitigate the risk. And
there’s no sense in trying to take preventive actions,
because there’s no way you can prevent it. So the best
you can do is start looking for a new part supplier.

cnpatilpmp2012 (not verified)

Sat, 05/11/2013 - 18:59

When you are aware you haven't identified this risk earlier, so best way is accept the risk as this has become the problem now, so look out for a new supplier. Any one disagree with me.


Regards


CNPatil


 

rwmv

Sun, 05/12/2013 - 05:42

 it is the problem that needs to be solved, find another supplier.

So, D is the answer