SOFTWARE PROJECT MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Question 16 of 100Question ID:651438You are managing a project where several risks have been identified. For low-priority threats, you decide to forgo the development of risk responses and only establish contingency reserves.What risk strategy are you using in this situation?
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AMitigation
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BAcceptance
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CTransfer
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DAvoidance
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Explanation:
Detailed explanation-1: -Types of project risks Financial risks such as rising costs, inaccurate budget forecasts, increases in labor and materials, low sales, and challenges in securing funding.
Detailed explanation-2: -Risk Management Process. Managing risks on projects is a process that includes risk assessment and a mitigation strategy for those risks. Risk assessment includes both the identification of potential risk and the evaluation of the potential impact of the risk.
Detailed explanation-3: -Identify the risk. Assess the risk. Treat the risk. Monitor and Report on the risk. 27-Sept-2021
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