Risks Are Prioritized Based on

question 55

Multiple Choice

Risks are prioritized based on

• A) the likelihood of occurrence and degree of impact.
• B) the order they are identified.
• C) the gut feeling of the project team.
• D) the priorities set in a different project.

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Definitions:

Employment Decline

A reduction in the number of employed individuals within a specific job market, sector, or economy over a certain period.

Occupations

Various types of jobs or professions in which individuals engage to earn a living.

Economic Principle

A widely accepted generalization about the economic behavior of individuals or institutions.

Resource Pricing

The determination of the price of resources or inputs used in production, based on factors like scarcity, demand, and cost of extraction.