GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Initiation
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Planning
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Execution
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Closing
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Detailed explanation-1: -Ideally, you should create your risk management plan during the project planning phase. That way, you can best identify any risks and their potential impact and monitor those risks during the project.
Detailed explanation-2: -Risk analysis is the process that determines how likely it is that risk will arise in a project. It studies the uncertainty of potential risks and how they would impact the project in terms of schedule, quality and costs if, in fact, they were to show up. Two ways to analyze risk are quantitative and qualitative.
Detailed explanation-3: -The project planning phase is a roadmap for project managers. From pre-planning and meeting with stakeholders, to research, drafting, scheduling, and receiving final approval. All of these steps and subtasks help contribute to a successful project that aligns with the sponsor’s vision and overall objectives.
Detailed explanation-4: -Step 1: Risk Identification. Step 2: Risk Assessment. Step 3: Risk Treatment. Step 4: Risk Monitoring and Reporting. 27-Sept-2021