SOFTWARE PROJECT MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Question 11 of 100Question ID:612793With a product development project underway, the project manager is facilitating a risk workshop and needs to determine the inputs for a Monte Carlo analysis. However, the costs associated with the development of a key feature are uncertain as the feature will require the use of new and previously untried technology.What is the best course of action?
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ADevelop a cumulative probability distribution
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BReview the lessons learned repository
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CUtilize representations of uncertainty
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DRun a simulation
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Explanation:
Detailed explanation-1: -The objective of risk identification is to identify all possible risks, not to eliminate risks from consideration or to develop solutions for mitigating risks-those functions are carried out during the risk assessment and risk mitigation steps.
Detailed explanation-2: -Risk management in project management is the process of identifying potential risks before the project commences and creating a plan to mitigate those risks or prevent them from happening altogether. Risk management is about taking informed risk and understanding your organisation’s risk appetite.
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