Which of These Statements About the Project Risk Analysis and Management

question 96

Multiple Choice

Which of these statements about the project risk analysis and management program is BEST?

• A)Risk management is best handled using an ad hoc approach.
• B)If a choice between accepting and transferring risk presents itself,risk should be transferred.
• C)The project manager should choose a small subset of all risk management tools.
• D)Multiple approaches to risk management should be integrated into a coherent,synthesized approach.

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Definitions:

Seller

A seller is an individual or entity that offers goods or services for sale in the market.

Buyer

An individual or entity that acquires goods or services in exchange for money, playing a crucial role in the dynamics of supply and demand in the marketplace.

Social-Cost Curve

illustrates the total cost of producing a good or service, including both private costs incurred by businesses and external costs borne by society.

Private Cost

The cost of a production activity that is directly borne by an enterprise.