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VCE
Your project has several risks that may cause serious financial impact should they happen. You have studied the risk events and made some potential risk responses for the risk events but management wants you to do more. They'd like for you to create some type of a chart that identified the risk probability and impact with a financial amount for each risk event. What is the likely outcome of creating this type of chart?
A. Risk response
B. Quantitative analysis
C. Contingency reserve
D. Risk response plan
Which of the following techniques for planning risk response can provide a means of identifying symptoms for use as trigger conditions for contingency responses?
A. Root cause analysis
B. Quantitative risk analysis
C. Ensuring that actions are available to address significant events before their occurrence
D. Involving selected exons in the process
What is the purpose of mitigating negative risks as a part of the risk response process?
A. To transfer the probability of a risk happening to a third party, and to reduce the severity of the impact
B. To reduce the probability of a risk happening, and/or reduce the severity of the impact
C. To accept the probability of a risk happening to reduce the severity of the impact
D. To increase the probability of a risk happening, but reduce the severity of the impact