During risk identification:

(select 4 apply)

Involve the project team and Stakeholders

Ensure all risks and issues are captured

Be sure to select a risk strategy for each risk (mitigate, transfer, avoid, accept)

Utilize categories to assist with risk identification

Utilize past project history

Utilize brainstorming

Ensure that no more than 50 risks are identified so that they can be managed effectively

During risk analysis:

(select 2 that apply)

Prioritize risks

Determine the risk probability, impact, and ease of detection

Determine why the risk occurred

Determine a risk strategy

During risk response:

(select 2 that apply)

Determine a risk strategy for every risk

Determine a preventative action response plan for every risk

Use the avoid strategy if you plan to reduce the impact and/or probability that a risk will occur

Use the transfer strategy if you plan to reduce the impact and/or probability that a risk will occur

Use the mitigation strategy if you plan to reduce the impact and/or probability that a risk will occur

Determine a contingency budget by:

(select 3 that apply)

Determining the % probability of high priority risks and selected medium priority risks

Determining the % impact of high priority risks and selected medium priority risks

Determining the monetary value for the risk impact

Determining the total value of the project

Determining the risk tolerance for the organization

During Project Execution:

(select 2 that apply)

Risk probability decreases over time

Risk impact decreases over time

Risk probability increases over time

Risk impact increases over time