MANAGEMENT

Detailed explanation-1: -In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences.

Detailed explanation-2: -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-3: -: possibility of loss or injury : peril. : someone or something that creates or suggests a hazard. 3. : the chance of loss or the perils to the subject matter of an insurance contract. also : the degree of probability of such loss.

Detailed explanation-4: -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-5: -b. False. Risk refers to a situation in which the probability of each possible outcome to a decision is unknown or meaningless.