Which of the following processes is described in the statement below? "It is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new…

The correct answer is C. Monitor and Control Risks. Monitor and Control Risks is the ongoing project management process of tracking identified risks, identifying new risks, executing risk response plans, and evaluating their effectiveness throughout the project lifecycle. Identify Risks is the earlier process of determining…

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Question

Which of the following processes is described in the statement below? "It is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new risks, and evaluating risk process effectiveness throughout the project."

Options

APerform Quantitative Risk Analysis
BPerform Qualitative Risk Analysis
CMonitor and Control Risks
DIdentify Risks

How the community answered

(38 responses)

B
3% (1)
C
95% (36)
D
3% (1)

Explanation

Monitor and Control Risks is the ongoing project management process of tracking identified risks, identifying new risks, executing risk response plans, and evaluating their effectiveness throughout the project lifecycle. Identify Risks is the earlier process of determining which risks may affect the project. Perform Qualitative Risk Analysis assesses the probability and impact of risks to prioritize them. Perform Quantitative Risk Analysis numerically analyzes the effect of risks on project objectives. The statement in the question describes a continuous, execution-phase activity - which is precisely what Monitor and Control Risks does.

Topics

#Risk Management#Risk Monitoring#Risk Control#Risk Response

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