Asked by
Makayla Bryant
on Oct 19, 2024
Verified
Once the project is approved and moves into the planning stage, _____.
A) agreements for risk sharing need to be concluded
B) the total risk on the project typically reduces as activities are performed without loss
C) risks must be weighed against the potential benefit of the project's success in order to decide if the project should be chosen
D) risks are identified with each major group of activities
E) a risk response plan can be used to identify increasing levels of detailed risk analysis
Planning Stage
The phase in which strategic actions and schedules are developed to achieve project objectives.
Risk Sharing
The practice of distributing identified risks among multiple parties to mitigate the impact on any single entity.
Total Risk
The complete range of possible risks that can affect a project, investment, or venture, encompassing both known and unknown factors.
- Comprehend the fundamental aspects of managing risk, including the identification, evaluation, minimization, and allocation of risks.
- Acknowledge the importance of implementing risk management techniques from the beginning to the end of a project, covering initiation, planning, execution, and closure.
Verified Answer
CL
Learning Objectives
- Comprehend the fundamental aspects of managing risk, including the identification, evaluation, minimization, and allocation of risks.
- Acknowledge the importance of implementing risk management techniques from the beginning to the end of a project, covering initiation, planning, execution, and closure.