Question 18 While performing project work, a team member notices that there is a potential new risk, which could impact the project's critical path. What should the team member do immediately? O Recommend the project be placed on hold for a day to avoid the risk Document the risk in the risk register Draft an emergency fallback plan since the critical path is in jeopardy Generate a risk report using quantitative and quantitative analysis of the identified risk to alert the team of the schedule impacts Question 19 The following Gantt chart displays the schedule for a software upgrade project. The system analysis was completed on August 12th, but the system design and development activities are still in process as of October 3rd. Once the product is developed, the project team will need to test and deploy it, which must be completed by October 17th. The method used to determine the earned value is based on percent complete. What is the cost variance as of October 3rd? Task Name 8/21 September 1 9/4 9/10 October 1 10/2 100% 75% Duration Start Finish Planned Actual August 1 (days) Value Cost 7/24 10 8/1/2011 8/12/2011 $500 $600 20 8/9/2011 9/5/2011 $1,000 $500 30 8/23/2011 10/3/2011 $5,000 $2,000 5 10/4/2011 10/10/2011 $1,000 5 10/11/2011 10/17/2011 $500 10/17/2011 10/17/2011 System Analysis System Design System Development System Testing System Deployment Project Complete 50% 096 0% Today 10/3/11 O-$650 $3,750 O $650 $3,100 Question 20 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 realized risks had not been identified earlier in the project The risk responses were poorly devised The qualitative risk analysis was inadequate There was little or no action taken to manage the known risks