Question: You are developing a new financial management system for your organization. The project is currently on track and performing well against the cost and schedule
You are developing a new financial management system for your organization. The project is currently on track and performing well against the cost and schedule baselines. Recently, the government has announced that it is considering some changes to the current regulations that can have a significant impact on your project. However, there is only a 5% chance that the new regulation will take effect before you deliver the project. However, if this does happen, you would need an additional three months and $50,000 to make the necessary updates to the system. What must you do immediately? There is a slim chance that the risk will occur. Accept the risk. Issue a change request asking for an additional $50,000 funding. Issue a change request asking for an additional $2,500 for expected value of the risk. Add this to the risk register, analyze the risk, and identify potential risk responses.
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