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?

A. The realized risks had not been identified earlier in the project
B. The risk responses were poorly devised
C. The qualitative risk analysis was inadequate
D. There was little or no action taken to manage the known risks

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HINT: The source of the problem lies with project execution rather than planning.

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Answer and Explanation:
The correct answer is D.

Proper attention to the Implement Risk Responses process will ensure that the agreed-upon risk responses are actually executed. A common problem with Project Risk Management is that project teams spend effort in identifying and analyzing risks and developing risk responses, then risk responses are agreed upon and documented in the risk register and risk report, but no action is taken to manage the risk.

The incorrect answer choices all represent activities that occurred during project planning, which according to the scenario, was meticulous and followed all project management best practices.

Therefore, the most likely reason for the project failing to meet objectives is the result of inadequate attention to the Implement Risk Responses process during project execution.

Thus, among the available choices, taking little or no action to manage the known risks is the best answer to the question asked.

Details for each option:

A. Incorrect. The question states that all project management best practices were rigorously and thoroughly followed during project planning, and the Identify Risks process is part of project planning. Additionally, the question states that several critical previously known risks were experienced on the project. Therefore, the question suggests that the realized risks were identified during project planning.

B. Incorrect. The Plan Risk Responses process is carried out during project planning. The question states that all project management best practices were rigorously and thoroughly followed during project planning. Therefore, the question implies that comprehensive risk responses were created.

C. Incorrect. The Perform Qualitative Risk Analysis process is conducted as part of project planning. The question indicates that project planning was meticulous and all project management best practices were followed during planning. Therefore, it is not likely that the qualitative risk analysis was inadequate.

D. Correct. The question states that project planning was meticulous, which suggests that the problem lies in either the Implement Risk Responses process or the Monitor Risks process. This answer choice represents a poorly executed Implement Risk Responses process. If there were little or no action taken to manage the known risks, this choice would be a likely cause of the project to fail to meet its objectives.

Reference: A Guide to the Project Management Body of Knowledge (PMBOK^® Guide) – Sixth Edition, Project Management Institute Inc., 2017, Page(s) 450