hard · Project Management Professional Hybrid Approaches
On a project at Thornfield Labs, a risk that was identified and given a 'Mitigate' strategy has just occurred. The impact is higher than anticipated, and the mitigation was only partially effective.
What should the project manager do first?
- Transfer the risk to an insurance provider to avoid any further financial impact on the project.
- Submit a change request to the Change Control Board to increase the management reserve for the project.
- Implement the contingency plan or workaround and then evaluate the remaining residual risk.
- Meet with the risk owner to discuss why the original mitigation strategy failed so badly.
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