During project planning of a large, complex project, project management best practices were rigorously and thoroughly followed. During project execution, the project experienced several critical risks, which were foreseen and previously identified. Despite the meticulous planning, the project failed to achieve the established objectives due to these realized risks.

What may have gone wrong in this scenario?

The risk responses were poorly devised

The realized risks had not been identified earlier in the project

There was little or no action taken to manage the known risks

The qualitative risk analysis was inadequate