The correct answer is: rise at first, but then begin to decline over the life of the project.This is because the cost impact of a risk event is typically highest in the early stages of a project, when changes or corrections are more complex and costly to implement. As the project progresses, the cost impact of a risk event tends to decrease as the design is finalized and the project becomes more defined. However, if a risk event occurs later in the project, the cost impact can rise again as changes may require significant rework or additional resources.