During a project, your company announces a merger with a larger organization. As the project manager, what is the BEST approach to ensure your project's success in light of this development?
Assign merger-related issues to the corporate legal team to handle.
Identify and assess risks related to the merger and update the risk management plan.
Suspend current projects until the merger is finalized.
Ignore merger-related risks to prevent causing unnecessary concern among team members.
The best approach is to identify and assess the risks associated with the merger and update the risk management plan accordingly. This proactive step allows the project manager to anticipate potential impacts on the project, such as changes in resources, priorities, or organizational structure, and develop strategies to mitigate negative effects. Suspending the project without analysis may cause unnecessary delays and is not justified unless specific risks warrant it. Ignoring the risks could lead to unanticipated issues that jeopardize the project's success. Assigning responsibility solely to the legal team overlooks the broader project implications that the project manager should address.
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What are some common risks associated with a merger?
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What elements should be included in a risk management plan?
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How can project managers communicate merger-related changes to their teams effectively?