The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.
Which 2 statements should be recorded under the Risk management procedure heading?
Under the Risk management procedure heading, it is important to assess the probability of risks using predefined scales to ensure that the evaluation is consistent and objective, and to clearly define every threat and opportunity in terms of cause, event, and effect to facilitate comprehensive risk analysis and response planning. These elements are essential aspects of an effective risk management procedure.
Edit: Appendix A.24 not A.23
Agreed with option B & D as these are factually correct and related to risk management procedure. A --> Full impact analysis is not worth for all problems or issues. C --> Incorrect as every issue needs to be considered. E --> Risk response should be decided after risk assessment.
Correct Answer : B & D
Now I realize that C isn't correct as there's the word "heading" in the question which refers to "Introduction" in the composition of risk register under Risk Management Approach in Appendix A.23
Isn't C correct? It states a risk tolerance which is one of the items listed in the composition of the risk register under Risk Management Approach in Appendix A.23