What is a Risk?
Question
Which statement defines a risk?
Answers
Explanations
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A. B. C. D.C.
The correct answer is C.
A risk is defined as an uncertain event or set of events that, should it or they occur, will have an effect on the achievement of objectives.
Option A is not correct as it implies that the event is certain to occur in the future, which is not always the case with risks. Risks are uncertain events that may or may not occur.
Option B is not correct as it refers to an event that has already occurred, which is not a risk. Risks are events that may occur in the future.
Option D is not correct as it implies that all risks will be escalated to the Project Board for a response, which is not always the case. Risks are typically managed and responded to by the project team, with higher-level risks being escalated to the appropriate level of management.
Therefore, option C is the correct definition of a risk as it captures the essence of an uncertain event or set of events that could affect the achievement of project objectives. It is important for project managers to identify and manage risks proactively to minimize their impact on the project's success.
