A project manager is hired as a consultant by the executive sponsor to manage a major change program that has experienced two past failures. The current executive sponsor believes the project is in good shape based on feedback from the last project manager and reports this to senior executive management. The executive sponsor believes there were no major risks threatening the time, budget, or quality of the project. In the first week of risk analysis, the project manager concludes the project timeline is unrealistic and is three months behind schedule. The organization’s risk appetite is low.

A project manager is hired as a consultant by the executive sponsor to manage a major change program that has experienced two past failures. The current executive sponsor believes the project is in good shape based on feedback from the last project manager and reports this to senior executive management. The executive sponsor believes there were no major risks threatening the time, budget, or quality of the project. In the first week of risk analysis, the project manager concludes the project timeline is unrealistic and is three months behind schedule. The organization’s risk appetite is low.
What is the first step that should be taken?
A. Review the project schedule and recommend fast tracking the schedule and/or crashing the critical path.
B. Discuss the project schedule with the executive sponsor and agree on a strategy for updating the risk management plan and risk response plans.
C. Update existing risk response plans and include more resources to get the project back on track.
D. Immediately call a steering committee meeting, report the project status, and suggest project scope reductions to save time.

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