1. Two weeks before reaching a major milestone, an unidentified risk is realized. The risk will have a profound effect on the financial health of the project, nearly doubling the actual cost to complete the work. Which of the following is the best action for the project manager to consider? (Give explanations for the correct and incorrect choices)

A. Meet with the project sponsor and other senior stakeholders to review the risk management plan and determine if the effort should be continued

B. Continue the project work as planned through the upcoming milestones, and then determine the appropriate response

C. Trigger the incident response plan and gather the project participants opinions on the best way to move forward

D. Implement a full project stop, and then provide the risk information and updated financial metrics to all stakeholders

2. An anticipated risk event occurred, and the project risk register was updated. Which of the following is the next document that needs to be updated? (Give explanations for the correct and incorrect choices)

A. Issue log

B. Mitigation plan

C. Milestone list

D. Project plan