Scenario
A photographer from Portraits Ltd, a professional photographic company, has taken on the role of
Team Manager after taking some time to understand the requirements of the project. A contract
for their services has been set up and is being monitored by the Purchasing Manager and a Work
Package has been agreed. This contract specifies that the photographer must arrange a meeting
with the Engineering Manager to establish a schedule for the photo sessions to minimize the
impact on the Engineering staff. This meeting should have occurred by now.
The Engineering Manager was made aware of this requirement but when asked he reported that
he has received no communication from the photographer. The Project Manager has tried to call
the photographer and has had no response. The Project Manager believes there is a risk that
Portraits Ltd are overbooking work and prioritizing other clients’ work. If Portraits ltd do not deliver
on schedule the project will be delayed and the expected benefits will be reduced.
The contract is to be reviewed and Portraits Ltd reminded of their agreement.
The project is now in stage 2. The Project Manager has heard about the possibility of a competitor
also producing a calendar to be delivered earlier than the target date for this project. There is a
threat that the early release of a competitor’s calendar may weaken the impact of the MNO
Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar
project.
Which 2 statements should be recorded under the Risk management procedure heading?

A.
When a new problem arises, a full impact analysis will be undertaken to assess the impact on
the project’ objectives and Business Case.

B.
Probability will be assessed against the scales defined in this Risk Management Strategy.

C.
Any risk which has an expected value of more than £1 k will NOT be registered.

D.
Every threat and opportunity identified must be clearly defined in terms of cause, event and
effect.

E.
‘Reduce’ Response actions which result in a lower impact and/or probability rating.