SOFTWARE ENGINEERING

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SOFTWARE PROJECT MANAGEMENT

RISK MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Question 72 of 100Question ID:612220During a risk review meeting, the project manager learns that the lead developer for the project has been offered a position with a competitor. The project team members have been with the performing organization for over ten years, so the risk of losing a developer was considered as low-probability and placed on the watch list of the risk register.What is the best course of action?
A
ANo further action is necessary since the risk has already been placed on the watch list
B
BBegin searching for a replacement just in case the developer leaves the company
C
CUpgrade the risk in the risk register and develop an appropriate risk response plan
D
DImplement the agreed-upon risk response from the risk register
Explanation: 

Detailed explanation-1: -Ideally, you should create your risk management plan during the project planning phase. That way, you can best identify any risks and their potential impact and monitor those risks during the project. Instead of being caught unaware, you’ll have your eye on those risks in case they do become troublesome.

Detailed explanation-2: -Types of project risks Financial risks such as rising costs, inaccurate budget forecasts, increases in labor and materials, low sales, and challenges in securing funding.

Detailed explanation-3: -Risk Reduction This approach refers to mitigating risks through proper actions to prevent them or minimize their impact. This is a standard method of treating risk. With this approach, you can adopt measures and tactics to help you manage risks more effectively.

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