Contingency

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suresi00
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Joined: Mon Nov 20, 2017 4:05 pm

Contingency

Postby suresi00 Fri Dec 15, 2017 1:22 am

The project you are working on is over halfway through and you have begun to measure that price increases on the steel that you require for the project have gone 8% over your estimate for price increases over the timeframe of the project. As a result you put in place a policy to procure all the remaining steel required for the project and pay for it to be stored in a warehouse instead of ordering the steel as you require it. This is an example of what?
A: Contingent response strategy.
B: Mitigation.
C: Transference.
D: Exploiting.

I think the answer is contingency response strategy. I remember Saket sir video on mitigation and contingency.

here the event ( budget went above the limit). Cause increase in price. This was a trigger we used Contigency response plan to overcome it.

It is not mitigation as we didn't do upfront.

Manish sir any comments.
manishpn
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Re: Contingency

Postby manishpn Sat Dec 16, 2017 5:10 pm

Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/

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