Project Risk Management Fundamentals Quiz

Project risk management is the practice of identifying, evaluating, and preventing or mitigating risks to a project that have the potential to impact the desired outcomes.

The purpose is to ensure that risk management becomes a proactive process and that responses to risk are developed to meet project objectives.

The risk management process involves a systematic application of management policies, processes, and procedures to the tasks of establishing the context, identifying, analyzing, assessing, treating, monitoring, and communicating risk.

<p>A project risk is an uncertain event that may or may not occur during a project.</p> Signup and view all the answers

<p>Managing risk is fundamental to achieving good project outcomes, as better management of risk leads to more successful activities and the removal or reduction of the possibility of underperformance.</p> Signup and view all the answers