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PMP - Opportunities & Threats - PMBOK 7th edition - Contingency Reserve
Intermediate
1/22
A project manager is reviewing the project budget and notices that the allocated contingency reserve is insufficient to cover the identified risks. Which of the following actions should the project manager take to address this issue?
a.
Request additional funding from the project sponsor to cover the potential risk impacts on the project budget
b.
Reallocate funds from other project activities to increase the contingency reserve without further analysis
c.
Review the risk register and update the contingency reserve based on the current risk assessment
d.
Proceed with the project using the current contingency reserve and address risks as they occur during project execution
Intermediate