Which of the following represents a project risk?

A project risk refers to a potential event or condition that, if it occurs, could have a positive or negative impact on the project's objectives. In this case, the schedule that requires work during a Christmas shutdown represents a clear project risk because it highlights a specific timing conflict. Engaging in work during a period when key personnel may not be available due to holidays can affect project timelines and resource availability, potentially leading to delays or increased costs.

Identifying this as a risk allows project managers to plan proactively, perhaps by adjusting the schedule or ensuring that necessary resources are available ahead of time. Recognizing the potential for disruption during a holiday period reflects a good understanding of how external factors can influence project success.

In contrast, the other options, while they may indicate issues or concerns within the project, do not represent risks in the same way. A defect causing a performance issue is typically classified as an existing problem rather than a future uncertainty. A duplicate requirement may cause confusion or redundancy but does not inherently imply a risk until it affects project delivery. An issue with a data conversion procedure indicates a current challenge that should be addressed but does not inherently suggest future uncertainty affecting the project plan.