Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A new vice president in one of its divisions observed that the portfolio of projects within their division experienced significant variations beyond the +10% established
A new vice president in one of its divisions observed that the portfolio of projects within their division experienced significant variations beyond the +10% established threshold with the potential of not achieving its overall business goals. Hence, they directed all project leaders and sponsors to ensure that they set and work toward more stringent thresholds of +5% and reports on the basis of any variance outside that range How should the risk manager respond? Assess the impacts of this change but do nothing as the project is still within the enterprise-wide threshold Accept project risks since it is already within the enterprise-wide threshold Assess and modify the project risk management plan in response to the new directive. Advise that the decision could increase the risk of their portfolio exponentially
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started