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A risk manager has a well-structured risk management process in place for a complex project with a tight schedule. Despite implementing preventive actions, one of the risks identified in the early stages of the project has still occurred and is now an issue. What should the risk manager do next?
Correct Answer: B
When a risk has materialized and become an issue despite preventive actions, the next logical step is to implement the pre-established risk response plan. This plan is designed specifically to address the risk if it occurs, ensuring that the project can quickly and effectively manage the issue. According to PMI's risk management guidelines, implementing the risk response plan is a critical step once a risk has been triggered, as it provides a structured approach to resolving the issue with minimal impact on the project.