Project Management Professional (PMP) — Question 407

An oil and gas project started without having acquired full funding for the project. The remaining funds were to be acquired during project execution. The acquisition of the remaining funds was delayed several months, resulting in a suspension of work by all contractors.
What should the project manager have done to prevent this from happening?

Answer options

• A. Ensured the stakeholder anticipated obstacles to achieving financial closure on the remaining funds.
• B. Ensured the risk was adequately assessed and mitigated by the appropriate stakeholders.
• C. Ensured the stakeholder who was providing additional funds remained interested in the project.
• D. Ensured the project team monitored and reviewed the project risk register periodically.

Correct answer: B

Explanation

The correct answer is B because adequately assessing and mitigating risks is crucial in project management, especially regarding funding. Options A, C, and D do not address the fundamental issue of risk assessment and mitigation, which directly affects the project's ability to secure necessary funding and continue operations.