Comprehensive and Detailed Explanation From Exact Extract:
In risk management, risks are evaluated based on probability (likelihood) and impact (consequence). Items that are high-risk and high-impact represent the most critical threats to project success and must be addressed proactively.
The appropriate response for high-risk, high-impact items is to create mitigation plans to address them, which includes:
Identifying specific actions to reduce the likelihood or impact of the risk.
Assigning owners responsible for executing mitigation actions.
Establishing timelines and triggers for when actions must be taken.
Monitoring these risks regularly in risk reviews and status meetings.
Why the other options are incorrect:
A . Develop a plan to revisit them in future phases - Waiting to revisit critical risks delays action and increases the chance that they will negatively affect the project.
B . Draft a summary of risks for status reports - Reporting alone does not reduce risk; it must be paired with concrete mitigation actions.
C . Track them without taking immediate action - Simply tracking high-risk, high-impact items without acting is not acceptable risk management.
Therefore, high-risk, high-impact items should be handled by creating mitigation plans to address them, making D the correct answer.