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Questions and Answers
What is the purpose of risk management?
What is the purpose of risk management?
- To define procedures to accept, avoid, or minimize the impact of risk on the project (correct)
- To raise operational efficiency
- To predict all possible outcomes
- To avoid problems
What is the relationship between risk management practices and problems avoidance?
What is the relationship between risk management practices and problems avoidance?
- There is no relationship
- There is a positive correlation
- There is a negative correlation
- There is a statistical significant relationship (correct)
What impact does risk management have on operational efficiency?
What impact does risk management have on operational efficiency?
- It increases efficiency
- It decreases efficiency
- It has no effect
- It can both increase and decrease efficiency (correct)
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Study Notes
- Risk management is the practice of systematically thinking about all possible outcomes before they happen and defining procedures to accept, avoid, or minimize the impact of risk on the project.
- Risk management affects efficiency during operation by helping to avoid risks and problems that could occur.
- Risk management can avoid problems by raising efficiency.
- There is a statistical significant relationship between risk management practices and problems avoidance.
- The risk management practices have an impact on operational efficiency.
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