ITPEC IP October 2020 Question 52
ITPEC IP October 2020 — Question 52 of 100
Project risks are prioritized using both their probability of occurrence and their potential impact. This assessment helps the team direct time and budget toward the most significant exposures and select proportionate responses.
Answer (c)
Why not others:
- not every risk can be identified at project start; identification continues throughout the project
- avoiding every risk is impossible and may cost more than the expected harm
- responses and contingencies should be planned before realization, not improvised only after the event
Key rule: Risk management is iterative: identify, analyze probability and impact, plan responses, assign owners, monitor, and update.
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