While executing a project, you identify that a previously documented risk has occurred, and it is impacting your project schedule. Which of the following actions should you take to address this situation as per the agreed-upon risk response plan?
Update the risk register with the details of the risk occurrence.
Reevaluate the risk response plan for appropriateness.
Update the project stakeholders about the risk occurrence and impact.
Execute the predefined risk response plan that includes mitigation or contingency actions.
When a documented risk occurs, the project manager should execute the predefined mitigation or contingency plan outlined in the risk response plan. This ensures the project team addresses the impact of the risk effectively. Notifying the stakeholders is part of communication management but not the immediate response to mitigate the risk. Updating the risk register is essential but comes after implementing the risk response. Reassessing the risk is also necessary, but it should follow the initial execution of the response plan.
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What are mitigation and contingency actions in a risk response plan?
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