Discover the meaning of risk response in the PRINCE2 methodology. Learn how risk response involves actions to manage risks and bring them to an acceptable level.
Table of Contents
Question
Which of the following refers to the actions identified to bring a situation to a level where exposure to a risk is acceptable?
A. Risk category
B. Risk description
C. Risk response
D. Risk status
Answer
C. Risk response
Explanation
In the context of the PRINCE2 methodology, risk response refers to the specific actions identified and implemented to manage a risk and bring the situation to a level where exposure to that risk is acceptable. It involves developing and executing a plan to address the risk, which may include strategies such as avoiding, reducing, transferring, or accepting the risk. The risk response aims to minimize the potential negative impact of the risk on the project’s objectives while maximizing any potential opportunities. By effectively implementing the appropriate risk response, the project team can proactively manage risks and maintain them at an acceptable level throughout the project lifecycle.
PRINCE2 Foundation certification exam practice question and answer (Q&A) dump with detail explanation and reference available free, helpful to pass the PRINCE2 Foundation exam and earn PRINCE2 Foundation certification.