What is risk management?
Risk management involves identifying, assessing, and mitigating risks to minimize their impact on the project or organization.
What is the first step in risk management?
The first step in risk management is to identify potential risks that could impact the project's success.
What is a risk mitigation strategy?
A risk mitigation strategy aims to reduce the likelihood or impact of identified risks through planning and preparation.
What is the purpose of a risk register?
A risk register is a document used to record identified risks, their impact, and mitigation strategies.
What is a key characteristic of problem-solving in risk management?
Problem-solving in risk management involves analyzing issues, finding root causes, and developing effective solutions to mitigate the risks.
What is risk assessment?
Risk assessment involves evaluating the likelihood and impact of identified risks to prioritize their mitigation.
Loading Questions...
What is the role of decision-making in risk management?
Decision-making in risk management involves choosing the best course of action based on the analysis of potential risks and their impacts.
What is the importance of monitoring risks throughout the project?
Monitoring risks throughout the project ensures that new risks are identified and that mitigation strategies remain effective as the project progresses.
What is the role of stakeholders in risk management?
Stakeholders provide valuable insights and feedback, which help identify and mitigate risks that may affect the project’s success.