Question: 7. The risk avoidance cost profile and the risk avoidance opportunity profile are essentially reciprocal functions (refer to 'window of opportunity' in overview PPT). A.

7. The risk avoidance cost profile and the risk avoidance opportunity

7. The risk avoidance cost profile and the risk avoidance opportunity profile are essentially reciprocal functions (refer to 'window of opportunity' in overview PPT). A. True B. False 8. Risk management does NOT mean 'being smart about taking chances'. A. True B. False 9. relates the probabilistic nature of risk to the impact on schedule time caused by corrective action. A. Risk Cost B. Risk time C. Peril D. MTBF E. RSS 10. A risk network approach can often be used to A. Expand a simple subsystem B. Find the 'mean time between failures' C. Define baseline cost D. Simplify complex combinations of subsystems or risks 11. Heuristics is a method of solution: A. based on deterministic equations. B. 'closed-end'. C. employs 'rules of thumb'. D. based on probabilistic functions. E. None of these

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