You are managing a project where a risk identified in the risk register has occurred. The risk response plan calls for mitigation, but the mitigation action will delay the critical path by 2 weeks. The project has no schedule reserve. What should the project manager do FIRST?
This is the correct course of action because the primary responsibility is to execute the pre-planned risk response to manage the identified risk effectively. Once the response is implemented, the project manager must accurately assess the actual impact on the project schedule. Any resulting deviation from the baseline schedule then necessitates a formal change request, which will be processed through the integrated change control system to obtain approval for adjusting the project baselines.
Why this answer
The risk response should be implemented as planned to address the risk; then the PM should assess the impact and submit a change request for the schedule delay (since no reserve). Option A is wrong because ignoring the risk response could have negative consequences; the response must be implemented. Option B is wrong because schedule compression techniques may be considered after the impact is known and after implementing the response, not before.
Option D is wrong because the PM should first implement the response and assess impact before escalating; escalation is premature at this point.