hard · Project Management Professional Predictive (Plan-Driven)
Fenwick Grid is upgrading regional transmission software. A security threat is identified with a probability of 0.15 and a $2,000,000 impact. The risk management plan sets the escalation threshold at $250,000 EMV.
What is the project manager's best course of action?
- Update the risk register with the EMV of $300,000 and escalate to the risk owner in governance.
- Inform the sponsor immediately that the project is over its risk limit.
- Re-allocate $300,000 from the contingency reserve to a third-party security firm to transfer the risk.
- Ask the steering committee to increase the project's risk threshold to $350,000.
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