Question: Question 2: True or False Questions (5 Marks, 1 Mark each) Put true or false for each of the following statements: Project risk management is

Question 2: True or False Questions (5 Marks, 1 Mark each)

Put true or false for each of the following statements:

  1. Project risk management is reactive approach to face risk.

  1. All risks are independent and frequently the greatest risk on a project comes from a series of unrelated events.

  1. Risk identification is the process of understanding what potential events might hurt or enhance a particular project.

  1. Quantitative risk analysis is concerned with prioritizing identified risks and

Priority is determined by estimating a risks probability and its impact on the project.

  1. Probability and impact matrix defines a combination of risk probability and risk impact that helps determine which risks need detailed risk response plans.

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