You were in the middle of a two-year project to deploy new technology to field offices across the country. A hurricane caused power outages just when the upgrade was near completion. When the power was restored, all of the project reports and historical data were lost with no way of retrieving them. What should have been done to mitigate this risk?
A. Purchase insurance.
B. Plan for a reserve fund.
C. Monitor the weather and have a contingency plan.
D. Schedule the installation outside of the hurricane season.
Based on the assumption that the best option should be to avoid the risk, I chose the answer D. However the given answer is C.
Do you agree?
Risk management question
- manishpn
- Expert
Post
Also if nature related risks if project starts avoiding all the time the schedule will be delayed for no reason. so best option it to plan for the risk which is #C
Re: Risk management question
If the Risk is manageable it should not be avoided, the option #D means avoiding the risk and there is no such mention in the question which indicates the risk should be avoided.costasz wrote: ↑Thu Dec 31, 2020 4:16 pmYou were in the middle of a two-year project to deploy new technology to field offices across the country. A hurricane caused power outages just when the upgrade was near completion. When the power was restored, all of the project reports and historical data were lost with no way of retrieving them. What should have been done to mitigate this risk?
A. Purchase insurance.
B. Plan for a reserve fund.
C. Monitor the weather and have a contingency plan.
D. Schedule the installation outside of the hurricane season.
Based on the assumption that the best option should be to avoid the risk, I chose the answer D. However the given answer is C.
Do you agree?
Also if nature related risks if project starts avoiding all the time the schedule will be delayed for no reason. so best option it to plan for the risk which is #C
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