When is risk management undertaken? Group of answer choicesThroughout the entire life of any project.Only if the project is large and high risk.Only at the start of the project.Only at the end of the project.

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

Risk” usually _______ as the project progresses.

Once the project is approved and moves into the planning stage, what happens in the next phase of the project life cycle? Select one: ans. Risks are identified with each major group of activities. Risks must be weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. The total risk on the project typically reduces as activities are performed without loss. Agreements for risk sharing need to be concluded.

What is the key element of continuous risk management in projects?Grupo de elecciones de respuestaIdentifying risks once at the project startIgnoring risks after the initial assessmentRegularly reassessing risks throughout the projectAccepting all identified risks

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