PMP · Question 36 · Task 3: Assess and manage risks
A project team has identified a risk that a key supplier might not deliver components on time due to their own supply chain issues. The probability is assessed as medium, and the impact would be high, potentially delaying the project by 4-6 weeks. The team has identified three response options: find an alternative supplier, build buffer time into the schedule, or negotiate penalty clauses with the current supplier. What should the project manager do?
Answer options:
Evaluate each response option against cost, feasibility, and effectiveness criteria
Implement all three response options to maximize risk mitigation
Choose the alternative supplier option since it eliminates the risk entirely
Select the schedule buffer option as it's the simplest to implement
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