Which describes a risk effect?
Which describes a risk effect?
A risk effect is the impact or consequence on the project objectives should a threat or opportunity associated with a risk occur. It refers to how the project outcomes will be influenced if the risk materializes. This impact can be either positive or negative. Therefore, the correct description of a risk effect is the impact(s) on the project objectives should the threat or opportunity occur.
A risk effect refers to the impact or consequences of a risk occurring. Among the given choices, option C correctly describes a risk effect.
A risk effect refers to the impact or consequences of a risk occurring. Therefore, the correct answer is C - the impact(s) on the project objectives should the threat or opportunity occur. When a risk occurs, it can either have a positive or negative impact on a project objective such as schedule, cost, quality, or scope. The effect of a risk can be significant or negligible depending on the nature of the risk and the project environment. A project manager must identify and assess the risks, develop strategies to mitigate or exploit the risks, and monitor the risks throughout the project lifecycle to minimize their impact on project objectives.