The first step in risk management is ____. Select the true statement about a project life cycle? Question 6 options: It is much more expensive to make major changes to a project during the earlier phases than the latter phases More resources are usually needed during the initial phases of a project than during the middle or final phases In the later phases of the project life cycle, the level of uncertainty is usually the highest In the early phases of a project life cycle, resource needs are usually lowestQuestion 5 options: identifying risk Listing risk Assessing list Categorizing risk