QUESTION $12$ Expected monetary value $($EMV$)$ analysis has all of the following characteristics EXCEPT: It is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen. The EMV of opportunities will generally be expressed as positive values, while those of risks will be negative. EMV analysis cannot be used effectively in decision tree analysis unless a risk$-$averse assumption is made. EMV is calculated by multiplying the value of each possible outcome by its probability of occurrence and adding the products together. QUESTION $13$ All of the following are characteristics of the risk acceptance strategy EXCEPT: It can be either passive or active. Is aimed at meeting or exceeding technical specifications. Passive acceptance requires no action except to document the strategy, leaving the project team to deal with the risks as they occur. The most common active acceptance strategy is to establish a contingency reserve, including amounts of time, money, or resources to handle the risks.