Multiple Select QuestionSelect all that applyWhich are potential impacts given a project with risk responses but no contingency plan?Multiple select question.Incorrect actions taken.Panic.Delayed corrective action.Reduced costs through saved time.Need help? Review these concept resource
Question
Multiple Select QuestionSelect all that applyWhich are potential impacts given a project with risk responses but no contingency plan?Multiple select question.Incorrect actions taken.Panic.Delayed corrective action.Reduced costs through saved time.Need help? Review these concept resource
Solution
The potential impacts given a project with risk responses but no contingency plan could be:
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Incorrect actions taken: Without a contingency plan, the team might not know the correct course of action to take when a risk occurs. This could lead to incorrect actions being taken, which could exacerbate the problem.
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Panic: In the absence of a contingency plan, team members might panic when a risk occurs. This could lead to poor decision-making and further problems.
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Delayed corrective action: Without a contingency plan, it might take longer to decide on and implement a corrective action when a risk occurs. This could delay the project and increase costs.
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Reduced costs through saved time: This is unlikely to be a potential impact. Without a contingency plan, it's more likely that the project will face delays and increased costs. A contingency plan helps to save time and reduce costs by outlining the steps to take when a risk occurs.
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Multiple Select QuestionSelect all that applyWhat functions are included in a risk response strategy?Multiple select question.Watching for new risksMonitoring "triggering" eventsDeveloping management reservesInitiating contingency plans
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