Fill in the blank: Risk management is the process of _____.1 pointidentifying and evaluating potential risks and issues that could impact a projectidentifying and initiating projects that have a low potential for riskidentifying and avoiding projects that have a high potential for riskidentifying and mitigating risks and issues that are already impacting a project4.Question 4

Risk Management entails all the processes involved in identifying, assessing, analyzing, responding and controlling project risk.Question 1Answera.yesb.agreec.nod.disagree

As a project manager you are practicing risk management. You have already defined potential risks, determined their likelihood, and prioritized them. Now, you’re making a plan to address and manage each risk. This represents which risk management step?1 pointAnalyze risksTreat risksMonitor and control risksIdentify risks

Risk Management: Identifying potential risks and developing strategies to mitigate them. This helps in minimizing the impact of uncertainties on the project

Define a risk as it relates to project management.1 pointA risk is a measurement that estimates the potential impact of events that could occur in the future.A risk is a measurement that estimates the impact of known problems.A risk is an event that might occur and could impact a project in the future.A risk is a known problem that has already impacted a project.

A major part of risk management is identifying potential problems. Which of the following is another critical aspect of risk management?1 pointCreating a plan for potential risksRunning practice situations where risks have become issues Reviewing past projects and reusing those risk management plans Encouraging risk early in a project