While preparing your risk responses, you realize that you have not planned for unknown risk events. You need to make adjustments to the project to compensate for unknown risk events. These adjustments are based on your past project experience when unknown risk events occurred and knocked the project off track. What should you do?
A. Include a management reserve in the budget to try to compensate for the unknown risks, and notify management to expect unknown risks to occur.
B. Document the unknown risk items and calculate the expected monetary value based on probability and impact that may result from the occurrence.
C. Determine the unknown risk events and the associated cost, then add the cost to the project budget as reserves.
D. With the stakeholders, determine a percentage of the known risk budget to allocate to a management reserve budget.
Answer: A
You are about to begin negotiations with people from another country. Which of the following should provide guidance on what business practices are allowed and not allowed?
A. The company code of conduct
B. The project charter
C. The scope management plan
D. The negotiation plan
Answer: A
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