____ involves identifying, assessing, and responding to project risks in order to minimize the likelihood of occurrence and/or potential impact of adverse events on the accomplishment of the project objective.
A) Risk response
B) Risk management
C) Risk responsibility
D) Risk acceptance and avoidance

Question

Quizplus · Accepted Answer

Risk management involves systematic identification and evaluation of potential risks and developing strategies to mitigate, avoid or accept them. It is an ongoing process of monitoring and controlling risk throughout the project lifecycle in order to achieve project objectives with minimum negative impact. Risk response is a part of risk management that involves implementing strategies to address identified risks. Risk responsibility and risk acceptance and avoidance are not commonly used terms in project risk management.

____ Involves Identifying, Assessing, and Responding to Project Risks in Order