The project manager is reviewing the risk register and identifies a potential high-impact, high-probability risk: a key supplier could go out of business, delaying the project significantly. Which of the following actions would be MOST appropriate for the project manager to take FIRST?

Question

Answer

Escalate the risk to senior management for their input and potential mitigation strategies.

Answer

Immediately contact the supplier to discuss their financial stability and potential risks.

Answer

Conduct a thorough risk analysis to quantify the potential impact and probability of the risk.

Answer

Communicate the risk to the project team and stakeholders, keeping them informed of the situation.

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Develop a contingency plan to source materials from an alternative supplier.

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The project manager is reviewing the risk register and identifies a potential hi...

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