MANAGEMENT

Detailed explanation-1: -Probability – A risk is an event that “may” occur. The probability of it occurring can range anywhere from just above 0 percent to just below 100 percent. (Note: It can’t be exactly 100 percent, because then it would be a certainty, not a risk.

Detailed explanation-2: -Risk Likelihood means the possibility of a potential risk occurring, interpreted using qualitative values such as low, medium, or high. This is in comparison with quantitative assessments, which use data and numbers. When using a quantitative assessment, you typically speak about Risk Probability and percentage.

Detailed explanation-3: -Answer : c Plan Risk Response is the process of developing options and actions to enhance opportunities and to reduce the threats to project objectives .

Detailed explanation-4: -Likelihood is a qualitative assessment that is subjective with little objective measurement. An example is: there is a high likelihood of rain tomorrow. Probability refers to the percentage of possibilities that foreseen outcomes will occur based on parameters of values.