During a large construction project, the project manager identifies a significant risk that could jeopardize the project's timeline. This risk was not initially anticipated, and its emergence poses a potential delay that exceeds the contingency time allocated in the project schedule. What should the project manager do next according to best practices for escalation?
Wait to see if the situation worsens before taking any action.
Discuss the issue with peers in a different department for advice.
Escalate the issue to higher management for strategic guidance and support.
Schedule a meeting with the project team to discuss potential solutions.
According to project management best practices, the project manager should escalate the issue to higher management if it poses a significant impact on the project and exceeds predefined triggers, such as the allocated contingency time. Escalation ensures that senior management is aware of the potential issue and can make decisions or provide resources that may not be within the project manager's control. Escalating the risk allows for strategic decisions that could reallocate resources, adjust project scope, or implement alternative strategies to keep the project on track. Options that include waiting for further developments or discussing with peers might cause delays and are not as proactive in securing necessary adjustments or support from higher-level stakeholders.
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