SOFTWARE PROJECT MANAGEMENT
RISK MANAGEMENT
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Question
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Question 64 of 100Question ID:613657A project team on a construction project have updated the risk register and risk report. One of the high-priority risks is a major hurricane that may occur during construction and could potentially result in massive rework.What should the project manager do next to determine whether or not hurricane barriers should be built as a preventive measure?
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AEvaluate the risk breakdown structure (RBS) to figure out if a hurricane is a risk the project is willing to accept.
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BConduct a decision tree analysis to quantify the expense of building hurricane barriers versus the expense of rework.
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CConduct a probability and impact assessment to determine where the hurricane risk ranks in relational to other risks.
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DProduce risk scores to assess the likelihood a major hurricane will occur during the construction time frame.
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Explanation:
Detailed explanation-1: -What risks for a project have the highest priority? Risks that have the highest priority are those on the critical path and those that have high degree of impact and high likelihood of occurance.
Detailed explanation-2: -Assumptions Analysis Every project contains certain underlying assumptions upon which its business case is built. Identifying these assumptions, and analyzing their reliability, can result in the identification of new risks.
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