An Analysis of the Costs Associated with Establishing and Maintaining

question 15

True/False

An analysis of the costs associated with establishing and maintaining a particular risk management strategy versus the risk management benefits to be obtained is called a SMART analysis.

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Definitions:

People Risks

Risks associated with the individuals involved in a project or business, such as skill shortages, personality conflicts, or turnover.

Cost Risks

Potential financial uncertainties that could impact the budget of a project or investment, leading to potential overruns or losses.

Schedule Risks

Potential events or uncertainties that could impact the planned timeline of a project, possibly causing delays or advancement.

Complexity Profile

An analysis or assessment of the various factors that contribute to the complexity of a project or system, including variables, interdependencies, and uncertainties.