Perform Integrated Change Control

Correct Answer: Assess the risk and submit a change request if required.

When a new risk is identified during the execution phase of a project, the correct procedure as per Project Management Professional (PMP) standards is to assess the risk and submit a change request if required. This is typically a part of the integrated change control process, which seeks to identify, evaluate, and manage changes that may occur during the project lifecycle. The option 'Ignore the new risk' is incorrect as ignoring risks can lead to unforeseen issues or damage later in the project. 'Update the risk register without assessing the risk' is also not recommended as the risk register needs to be an accurate record of assessed risks. Making changes to the project scope immediately is inappropriate as it bypasses the process of risk assessment and change control, leading to potential project instability.

Correct Answer: Evaluate the impact of the issue on project constraints.

As a project manager, when a technical issue crops up, the first step in the integrated change control process should be to 'Evaluate the impact of the issue on project constraints'. It helps in understanding the bearing it has on various project constraints like cost, time, quality, scope, etc. based on which further decisions can be taken. Without this analysis, making any changes could lead to mishap. The option 'Update the change control board immediately' is not the first thing to do. The Change Control Board (CCB) needs to know the changes only after a proper analysis of its impacts. 'Reject the change request' is not the correct response. One can not simply reject a change request without an initial evaluation. 'Include the issue in the risk register' is a potential action but only after evaluation of impacts and the decision is not to solve it immediately, but to risk responses plan. Therefore, evaluating the impact of the issue should be the first step. This strengthens the change control process by making informed decisions.

Correct Answer: Raise a change request to implement the unexecuted change.

In project management, any changes required during or at the end of the project should be handled through a formal change control process. This ensures that all changes are properly tracked, assessed for their impact and then implemented in a controlled manner. So, the best way to handle a change not implemented correctly impacting the final project deliverables during the closing phase is to 'Raise a change request to implement the unexecuted change.' Other options are not ideal: 'Ignoring the problem and closing the project' would not be professional and may lead to unsatisfactory results or even project failure. 'Implementing the change without going through the change control process' bypasses the structured approach to managing changes and can lead to many other issues down the line. 'Updating the project management plan without raising a change request' again ignores the formal change control process which is critical to the proper management of changes and, hence, the project.