Quiz 7 - Chapter 7
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If a risk event rated Impact = 2, Probability = 3, and Detection Difficulty = 4, the risk value would be equal to ________.
Risk Value = Impact x Probability x Detection = 2*3*4 = 24
According to the Snapshot from Practice, which step of risk management process demonstrates in the demolition of the Seattle Kingdome project?
Risk response development
The risk severity matrix is divided into red, yellow, and green zones. The red zone represents ________ risk.
high impact, high likelihood
The first step in the risk management process is risk ________.
identification
Performance bonds, warranties, and insurance are examples of ________ a risk.
transferring
