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A team is using a predictive model to determine possible cost overrun scenarios for a disruptive technology project. The data being used is pooled from various
projects implemented within the organization.
What should the project manager do to increase accuracy?
Alpha Project — Risk Management Report
The Alpha Project risk management report includes the following information:
- Risk monitoring is built into risk sessions.
- Risk identification / assessment is performed.
- Monthly review and reassessment are performed.
- 21 risks have been identified so far.
- Probability and impact have been estimated for every risk.
- All response plans have been completed.
- A probability and impact matrix is provided using green, yellow, and red severity zones.
The project manager of Alpha project is running a monthly risk review and reassessment meeting. During the meeting, the team confirms that risk 5 has materialized.
What should the project manager do?
(Refer to the Alpha Project — Risk Management Report exhibit.)
A project manager has proposed starting to use artificial intelligence (Al) on a project to senior management. Some of the team members are skeptical due to security
and privacy challenges.
What should the project manager do?
A project team released the first phase of a newly developed IT system to their operations team a month ago. The project team is currently working on new tasks for
the next phase but is continually contacted by operations key users with their new findings.
What should the project manager do to avoid this situation in the future?
One of the key team members working on a critical path task resigns without any notice. Another resource is hired as a temporary replacement but does not have the same skillset and is taking too long to complete the work.
What should the project manager do?
A project manager of a software company is working with a cross-functional team to deliver a product to an important client. While preparing the backlog items, it
becomes clear that the responsibility for an important component lies with another product division. This division has not been involved in the project concept phase.
What should the project manager do?
A project manager is overseeing the development of a reporting system for a security trading company using an adaptive approach. During the development process,
a change in requirements is identified, necessitating the submission of a soft copy of the report to the regulator. The team suggests submitting the report manually to
avoid further delays.
What should the project manager do first?
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A project team is developing a product with monthly deliverables. The user feedback collected after each iteration affects how the product is developed further.
How should the project manager process the changes?
During the execution phase of a complex project, a key government stakeholder was replaced by a new representative from the same agency. During a project
meeting, the new stakeholder expressed complaints about not being informed of recent on-site changes. The stakeholder also said they would not have approved
these changes.
What should the project manager do first?
Acompany merged with a larger company and new project management standards are enforced across the enterprise. The project sponsor is concerned that the
team is not meeting the expectations of the new leaders. The project is at risk of cancellation.
What should the project manager do?
