"Benchmarking" refers to what process?

Select one:

a.

The process of studying the business practices of other companies to gain ideas for improvement.

b.

The process of providing all company employees with training in statistical concepts such as sampling and statistical process controls so they better understand random variables and distributions.

c.

The process of auditing internal company strengths and weaknesses.

d.

The process of auditing external environmental factors.

e.

The process of consistently producing goods or services in accordance with design specifications.

Which of the following statements concerning Project Risk Management is false?

Select one:

a.

Risk types include strategic, operational, financial, compliance or regulatory, reputational, and safety.

b.

Risk is commonly measured as the product of impact and likelihood.

c.

Risk events can have a positive impact.

d.

The likelihood of a risk event typically more important than the impact of the risk event.

e.

A risk event is any technical performance, resource, or schedule outcome whose likelihood of being satisfactory is judged a priori (beforehand) to be uncertain.