Tracy is the project manager of the NLT Project for her company. The NLT Project is scheduled to last 14 months and has a budget at completion of $4,555,000. Tracy's organization will receive a bonus of $80,000 per day that the project is completed early up to $800,000. Tracy realizes that there are several opportunities within the project to save on time by crashing the project work. Crashing the project is what type of risk response?
You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution. Choose all that apply.
Joan is the project manager of the KYU project for her company. She is working with management on defining a contingency reserve for her project. Currently the project is scheduled to last 18 months and it has a cost budget of $2.5 million. What two areas of the project can the contingency reserve address in regard to risk management?
The project manager receives an updated project schedule from a sub team detailing the deliverables, dates, and durations for a critical milestone on the development and testing for offshore activities. This report is received one hour before a meeting with the chief executive officer (CEO) to present an updated master schedule of the critical path. The CEO has been promised a discussion on the project schedule several times.
However, based on the recent update from the off-shore team, the project manager realizes this new schedule is not realistic. There are new risks associated with it and it is not well thought out. Some key stakeholders want to present this revised plan to the CEO. This meeting has been postponed twice already.
Which action should the project manager take before meeting with the CEO?
