Explanation
The project manager should put in place a time and materials contract before work begins for a third party that needs to perform a short-term task for which the duration cannot be accurately estimated and the cost cannot be calculated in advance. A time and materials contract is a type of contract where the buyer pays the seller based on the actual time spent and materials used during the project. A time and materials contract is suitable for projects that have uncertain or variable scope, duration, or cost. A time and materials contract can provide flexibility and adaptability for both parties and allow them to adjust to changing requirements or circumstances.

Explanation
The project manager should exploit the risk after an opportunity emerged in the middle of a project life cycle.
Exploit is a risk response strategy that aims to increase the probability and/or impact of a positive risk or opportunity. Exploit can involve actions such as allocating more resources, changing the scope or schedule, or adding more features or benefits to the project deliverables. Exploit can help to ensure that the opportunity is realized and that the project gains more value or advantage from it3

Explanation
The project manager can use the burn up chart to analyze the current status of the project based on its scope (value delivered), budget (cost), and schedule (time). A burn up chart is a graphical tool that shows how much work has been completed (burned up) versus how much work remains (scope) over time. It also shows how much budget has been spent (burned up) versus how much budget remains (budget) over time. A burn up chart can help to monitor and control the project progress and performance and identify any variances or deviations from the plan. The chart given shows that both scope and budget lines are above their respective target lines at any given time point. This means that less work has been completed than planned (scope variance) and more money has been spent than planned (budget variance) at any given time point. Therefore, the project is behind schedule and over budget.

Explanation
Meeting minutes should be prepared to ensure team members who are absent remain informed about assignments. Meeting minutes document what was discussed, decisions made, and assignments given during a meeting, providing a record of the team's progress and ensuring absent members are up-to-date. References:
CompTIA Project+ Study Guide Section 4.2.2
The project manager should prepare meeting minutes to ensure team members who are absent remain informed about assignments. Meeting minutes are a written record of what was discussed and decided in a meeting. They usually include information such as attendees, agenda items, action items, decisions made, issues raised, and deadlines assigned. Meeting minutes can help to communicate important information to team members who could not attend the meeting and provide a reference for future follow-up.

Explanation
The project manager should review existing artifacts to get an understanding of the purpose of the project.
Existing artifacts are documents or records that provide information about the project background, context, scope, objectives, requirements, stakeholders, and deliverables. They may include documents such as project proposal, project charter, business case, feasibility study, statement of work (SOW), or contract. Reviewing existing artifacts can help to clarify the project vision and expectations and provide a basis for planning and executing the project.