hard · Project Management Professional Predictive (Plan-Driven)
Stonehaven Transit is managing an identified risk that has just occurred: a key supplier has declared bankruptcy. The risk register includes a planned response: 'Purchase the specialized components from an alternate vendor using the contingency reserve.'
What should the project manager do first?
- Perform a new qualitative risk analysis on the alternate vendor's reliability.
- Submit a change request to the Change Control Board to access management reserve for the new vendor.
- Request the sponsor's permission to terminate the contract with the bankrupt supplier.
- Implement the planned response and move the risk to the issue log.
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