BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following statements is TRUE..
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To achieve goal setting, organization should define their goal achievement
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To set the strategy, organization should identify the risks
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To define the risks, organization should define the opportunity
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During setting up the strategy, organization should be focused on the opportunity exploitation, instead of risks identification
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Explanation:
Detailed explanation-1: -Explanation. Risk elimination is not a type of risk management strategies.
Detailed explanation-2: -Since project managers and risk practitioners are used to the four common risk response strategies (for threats) of avoid, transfer, mitigate and accept, it seems sensible to build on these as a foundation for developing strategies appropriate for responding to identified opportunities.
Detailed explanation-3: -Mitigate. This risk response strategy helps you lessen the impact or probability of the risk. This strategy decreases the severity. For example, a team member may leave during the peak of your project.
There is 1 question to complete.