Question

which of the following is true regarding classifying and recording risks? a low probability risk has little negative effect on the success of a project. risks are initially identified during the planning phase of a project. the risk register should be updated as a project progresses. contingencies are needed for all identified risks.

Answer 1

The following is true regarding classifying and recording risks is (c) The risk register should be updated as a project progresses.

What is a risk?

A risk is the chance, high or low, that any hazard will actually cause somebody harm. Risk is the potential for a negative outcome. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value, often focusing on undesirable consequences.

Risk can be measured using statistical methods that are historical predictors of investment risk and volatility. Commonly used risk management techniques include standard deviation, Sharpe ratio, and beta.

For example: working alone away from your office can be a hazard. The risk of personal danger may be high. Electric cabling is a hazard. If it has snagged on a sharp object, the exposed wiring places it in a 'high-risk' category.

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