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?

Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from
the past project to help him and the project team to identify the risks that may be present in the project. Management agrees that this checklist approach is ideal and will save time in the project. Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary?

You are the project manager for the TTR project. You are in the process of gathering information for risk identification. You ask experts to participate in the process through their emails for maintaining anonymity. You collect the responses, summarize them, and are then re-circulated to the experts for further comment. Which of the following techniques are you using for risk identification?

You are the project manager of the HJU project for your company. This project will last for 18 months and has a project budget of $567,000. Robert, one of your stakeholders, has introduced a scope change request that will likely have an impact on the project costs and schedule. Robert assures you that he will pay for the extra time and costs associated with the risk event. You tell Robert that the change request may affect more areas of the project than just time and cost and that you are worried about the additional risks the change request will bring. What project management component is responsible for evaluating a change request and its impact on all of the project management knowledge areas?

Upon returning from vacation, the risk manager observes during the project status meeting that several activities being accomplished were not in the original plan. What should the risk manager do first?