You are a project manager for the construction of a major new manufacturing plant that is unlike any that has been done before. The project cost is estimated at $30,000,000, and the project will make use of three sellers. Once begun, the project cannot be cancelled, as there will be a large expenditure on plant and equipment. When managing a project, it is most important to carefully.
Select one:
a. Perform an identification of risks.
b. Examine the budget reserves.
c. Review all cost proposals from the sellers.
d. Complete the project charter.
The correct answer is: Perform an identification of risks.
A review of cost proposals could be done, but it is not a pressing issue based on the situation provided. Examining the budget reserves could also be done, but not until risk response planting is completed. It is always important to carefully complete a project charter, but there are other issues needing detailed attention in this situation. Since a project like this has never been done before, and there will be a large cost outlay, it would be best for the project manager to spend more time on risk management. Risk identification is the most proactive response and will have the greatest positive impact on the project.