Question

What is the first step in risk management strategy?

a.

Identifying the risk factors

b.

Determining the risk exposure

c.

Developing strategies to mitigate the risks

d.

Handling risks

Posted under Project Planning and Control Software Engineering

Answer: (a).Identifying the risk factors Explanation:The first step in risk management strategy is to identify the risk factors that may impact the project. This involves creating a checklist of potential risks and assessing the likelihood and impact of each one. Once the risks have been identified, the organization can move on to determining the risk exposure, developing strategies to mitigate the risks, and continuously monitoring and handling the risks throughout the project.

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