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Passive acceptance is no longer adopted in projects and is not an accepted strategy.
B) Passive acceptance requires no action except to document the strategy and come up with a risk management strategy.
Passive acceptance requires no action.
Passive acceptance requires no action except to document the strategy.
A) Risk Acceptance
B) Risk Mitigation
C) Risk Avoidance
D) Risk Transfer
During the SWOT (strengths, weaknesses, opportunities, and threats) analysis.
B) During the Identify Risks phase.
As soon as the Plan Risk Management phase begins
D) As soon as a project is conceived
It depends on how the project progresses relative to its objectives.
B) It is left to the discretion of the project manager.
Reassessment needs to be done at the 25%, 50%, and 75% stages of project completion.
Reassessment needs to be done at the 20%, 40%, 60% and 80% stages of project completion.
Input: Cost of each decision Output: Probability of occurrence
B) Input: Cost of each decision Output: Decision made
Input: Scenario probability Output: Expected Monetary Value (EMV)
D) Input: Cost of each decision Output: Payoff