You are the project manager of the KJH Project and are working with your project team to plan the risk responses. Consider that your project has a budget of $500,000 and is expected to last six months. Within the KJH Project you have identified a risk event that has a probability of .70 and has a cost impact of $350,000.
When it comes to creating a risk response for this event what is the risk exposure of the event that must be considered for the cost of the risk response?
Which of the following type of risk could result in bankruptcy?
The MOST effective way to increase the likelihood that risk responses will be implemented is to:
A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?
Participants in a risk workshop have become focused on the financial cost to mitigate risk rather than choosing the most appropriate response. Which of the following is the BEST way to address this type of issue in the long term?
