Which of these statements about the project risk analysis and management program is best?
A)Risk management follows a life cycle much as a project follows a life cycle.
B)The risk management strategy should be unwavering throughout the entire project life cycle.
C)If a choice between accepting and transferring risk presents itself,risk should be transferred.
D)Risk management is best handled using an ad hoc approach.

Question

Quizplus · Accepted Answer

Option A is the best choice as it correctly explains that risk management follows a life cycle similar to that of a project. This means that risk management activities are planned, executed, monitored, and controlled throughout the project life cycle. Option B is incorrect because the risk management strategy must be flexible and adaptable to changing circumstances throughout the project life cycle. Option C is incorrect because risk acceptance may be the best option in some cases, and risk transfer may not always be feasible or cost-effective. Option D is incorrect because an ad hoc approach to risk management is not recommended, as it can lead to inconsistent and ineffective risk management practices.

Which of These Statements About the Project Risk Analysis and Management