PMP Certification Monitoring and Controlling Test 4

Question : 57 of 71

Marks: +1, -0

Based on an identified risk that has a major severity level, a project sponsor asks for a quantitative risk analysis of the project. The project manager is unsure if there is sufficient time to perform that kind of analysis. The company's board is waiting for a formal response.
What should the project manager do to address the situation without jeopardizing project outcomes?

Hold a team meeting to obtain the information needed for a quantitative risk analysis.
Review the risk management plan to see if a quantitative risk analysis is required.
Meet with the project sponsor to review the identified risk, and issue a risk response plan.
Perform a quantitative risk analysis, and update the risk register and risk response plan.

Validate

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