Evaluate the three statements below about project risks, and then choose the correct alternative:

I$-$The primary questions project teams use in qualitative risk analysis are "how likely is this risk to happen?", and $"$if it does happen, how big will the impact be$?"$ II$-$Once risks have been identified and analyzed, the project team decides how they will handle each risk.

III$-$In some cases, project teams will elect to reduce a threat to a level that a sponsor and other stakeholders deem acceptable, rather than eliminate it completely.

All statements are correct

Only statements I and II are correct.

Only statements I and III are correct.

Only statements II and III are correct.