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Identify a consequence that can be attributed to the failure of one of the starling forces.
Risk Sharing
The practice of distributing identified risks among multiple parties to mitigate the impact on any single entity.
Total Risk
The complete range of possible risks that can affect a project, investment, or venture, encompassing both known and unknown factors.
Risk Response Plan
A strategic outline detailing the steps to be taken to address specific risks identified during the risk management process.
Initiation Phase
The first phase of a project lifecycle, focusing on defining the project at a broad level, including its purpose, scope, and objectives.
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