Certified Governance Risk and Compliance (CGRC) Practice Exam 2026 - Free CGRC Practice Questions and Study Guide

Updating the project management plan is crucial in response to a risk event. The project management plan serves as a comprehensive document that outlines how the project will be executed, monitored, and controlled. When a risk event occurs, it typically impacts various aspects of the project, including scope, schedule, cost, and resources. Therefore, revising the project management plan allows the project manager to realign the project objectives, update the risk management strategies, and ensure that the team has a clear understanding of any changes that need to be implemented to mitigate the identified risks.

This update not only helps in tracking the current status of the project but also assists in maintaining communication with stakeholders about the implications of the risk event. By ensuring that the project management plan reflects these updates, Walter can better manage the project and drive it towards successful completion while addressing any newly identified risks.

In this case, while other documents like the project scope statement and project communications plan may also require updates, they are typically secondary to the adjustments made in the project management plan, which encompasses broader operational changes necessary after a risk event.