For identified risks,management:
A)estimates their significance
B)assesses the likelihood of their occurrence
C)decides upon actions to manage them
D)all of the above

Question

Quizplus · Accepted Answer

To effectively manage identified risks, all three steps are necessary.

A) Estimating the significance of the risk is important because it helps the management team prioritize which risks are most critical and require immediate attention.

B) Assessing the likelihood of the risk occurring allows the team to determine how probable the risk is and how to allocate resources based on potential impact.

C) Finally, deciding upon actions to manage the risk is vital to mitigating any potential negative consequences. Without taking action, the risk will continue to pose a threat to the project or organization.

For Identified Risks,management