When a risk such as country-wide power cuts materializes and impacts the project timeline, the project manager should first analyze the impact of the issue on the project's objectives, including scope, time, cost, and quality. After assessing the impact, a change request should be submitted to update the project schedule, reflecting the new timeline and any adjustments to the project plan. Additionally, the project manager should extend the project deadline accordingly and ensure that the project schedule is updated to reflect this delay.
This ensures that all stakeholders are aware of the changes and that the project plan remains accurate and up-to-date. It is also essential to log the risk in the risk register and collaborate with the risk owner to implement the planned mitigation actions, preventing further impact on the project123456789101112131415161718.
References:
* PMP Risk Management Process - A Guide for 20241
* PMI Global Megatrends 20222
* Practice Standard for Project Risk Management3
* Risk Response Plan in Project Management: Key Strategies & Tips4
* Risk Management for Business Analysts (PMI-RMP/IIBA-ECBA)5
* Plan Risk Responses | Project Management Professional (PMP)7
* PMP Exam Strategies for Risk Response: Mitigate Risk, Avoid, or Transfer8
* Risk Management Process for PMP9
* Using a Project Schedule in Project Management10