Question

What is the final step in risk management?

a.

Identifying the risk factors

b.

Developing strategies to mitigate the risks

c.

Handle risks

d.

Providing for a contingency plan

Posted under Software Engineering

Answer: (c).Handle risks Explanation:The final step in risk management is handle risks. Risk factors must be monitored. For some risks, the avoidance or transfer actions may succeed, and those risks will never become a problem. However, for those risks that are decided not to handle, or for risks that become a problem despite mitigation efforts, a contingency plan must be invoked or the risk must be reassessed and handled. Risk management is a cyclic process.

Engage with the Community - Add Your Comment

Confused About the Answer? Ask for Details Here.

Know the Explanation? Add it Here.

Q. What is the final step in risk management?

Add Comment

Similar Questions

Discover Related MCQs

Q. What is the main goal of risk management?

View solution

Q. What is the risk exposure of a risk?

View solution

Q. How often should the risk management process be carried out?

View solution

Q. What are the four types of risks identified by Wallace and Keil (2004)?

View solution

Q. What is the first step in risk management strategy?

View solution

Q. What is the risk exposure for a given risk factor?

View solution

Q. How is risk management a cyclic process?

View solution

Q. Which of the following categories of risks have the most impact on project outcomes, according to a study by Wallace and Keil (2004)?

View solution

Q. What is the suggested ordering of risks that managers should pay attention to, according to Wallace and Keil's study?

View solution

Q. What is the advice given by Tom Gilb in regards to managing risks?

View solution

Q. Which of the following risks can be mitigated through an agile approach?

View solution

Q. What is a work breakdown structure (WBS)?

View solution

Q. What is a milestone in a project?

View solution

Q. What is the purpose of project planning?

View solution

Q. What is the purpose of a work breakdown structure (WBS)?

View solution

Q. What is a milestone in project planning and control?

View solution

Q. What are constraints in project planning?

View solution

Q. What is a PERT chart?

View solution

Q. What is the purpose of PERT charts?

View solution

Q. What is the earliest possible starting time for an unlabeled node?

View solution

View All MCQs on Software Engineering

Suggested Topics

Are you eager to expand your knowledge beyond Software Engineering? We've curated a selection of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of Computer Science. Happy exploring!

UNIX

Become proficient with the Unix operating system using our UNIX MCQs. Learn about...

JavaScript

Strengthen your web development skills with our JavaScript MCQs. Understand core...

Formal Languages and Automata Theory

Discover the mathematical models of computation with our Formal Languages and...

Cloud Computing

Stay on top of the biggest trend in IT with our Cloud Computing MCQs. These questions...

Cyber Security

Understand the fundamentals of safeguarding digital assets with our Cyber Security...

Internet of Things (IoT)

Discover how devices communicate with each other in the smart world with our IoT...

SQL Server

Master Microsoft's database server with our SQL Server MCQs. Topics cover database...

Hadoop

Dive into the world of big data with our Hadoop MCQs. Cover key concepts including...

Object Oriented Programming Using C++

Enhance your programming skills with our MCQs on Object Oriented Programming using...