ExpertHard1 markMultiple Choice
Task 3: Assess and manage risksrisk managementsupplier managementrisk mitigationcollaborative problem solving
PMP · Question 19 · Task 3: Assess and manage risks
During a risk assessment workshop, the project team identifies that a key supplier might not be able to deliver critical components on time due to their own supply chain issues. The probability is assessed as medium (50%) and the impact on the project schedule would be high (4-week delay). What should the project manager do FIRST?
During a risk assessment workshop, the project team identifies that a key supplier might not be able to deliver critical components on time due to their own supply chain issues. The probability is assessed as medium (50%) and the impact on the project schedule would be high (4-week delay). What should the project manager do FIRST?
Answer options:
A.
Accept the risk and build a 4-week buffer into the project schedule
B.
Find an alternative supplier immediately to avoid the potential delay
C.
Work with the supplier to understand their supply chain issues and explore mitigation options
D.
Escalate the risk to the sponsor for a decision on how to proceed
How to approach this question
Look for proactive risk management approaches that involve understanding root causes and collaborating on solutions before accepting risks or making major changes.
Full Answer
C.Work with the supplier to understand their supply chain issues and explore mitigation options✓ Correct
Effective risk management involves understanding root causes and working collaboratively with stakeholders to identify mitigation strategies before accepting risks or making costly changes.
Common mistakes
Students often choose immediate supplier changes (B) or risk acceptance (A), missing the opportunity for collaborative risk mitigation through understanding and problem-solving.
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