What should the project manager do next?

A project manager works on a long-term and high visibility project at an organization that has a low risk appetite towards this project due to its impact on the company’s business. The project sponsors follow up weekly with the project manager, who was just informed by one of the risk owners that the exposure from two high-impact risks are hitting the risk thresholds.

What should the project manager do next?
A . Update the project management plan to add contingency.
B. Perform an assumptions and constraints analysis.
C. Complete an assessment and confirm the response with the sponsors.
D. Implement mitigation measures for those risks.

Answer: C

Explanation:

The project manager should complete an assessment of the high-impact risks and confirm the response with the project sponsors (C) since the organization has a low risk appetite for this project. This approach ensures that the sponsors are aware of the situation and can provide guidance on how to proceed. This is in line with PMI’s PMBOK Guide, Sixth Edition.