Question

Your project sponsor, after reading through the risk response plan, has sent you an email asking you to justify the costs associated with the risk responses. You have decided to have each risk owner justify the cost for the responses to their risks. In delegating this work to them, provide instructions on how they would complete this analysis to show the benefit of the risk responses.

Answer 1

Answer:

Please find the detailed answer as follows:

Explanation:

A cost benefit analysis will be the most appropriate in this case.

Instructions to develop cost association with the risk responses:

• List the risks associated with the system
• Note down the direct costs associated with the risk
• Note down the indirect costs associated with the risk
• Highlight the benefits associated with the solution for the risk