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

Risk management is a continuous process that must be integrated throughout the life cycle of the project. This includes identifying, analyzing, evaluating, treating and monitoring risks in a structured and proactive manner. The best approach is to incorporate risk management activities into the project management life cycle, rather than adopting an ad hoc approach. The risk management strategy may need to be adjusted as the project progresses and new information becomes available. Transferring risk should only be considered as a last resort, and in some cases, it may not be feasible or cost-effective. Therefore, option A is the best statement.

Which of These Statements About the Project Risk Analysis and Management