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Set of flashcards Details
| Flashcards | 53 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 08.12.2013 / 10.06.2015 |
| Weblink |
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Simulates a model?s outcome many times to provide a statistical distribution of the calculated results
Usually by eliminating its causes.
Accepting the consequences of a risk if it occurs
Shifting the consequence of a risk and responsibility for its management to a third party. (negative risk)
Reducing the impact of a risk event by reducing the probability of its occurrence
Doing whatever you can to make sure the positive risk happens
Allocating ownership of the risk to another party. (positive risk)
Changing the size of the opportunity by identifying and maximizing key drivers of the positive risk
Applies to positive risks when the project team does not take any actions toward a risk.
Risks that remain after all of the response strategies have been implemented
Direct result of implementing a risk response
Unplanned responses to risk events, when they do not have contingency plans in place
Risk reassessment, risk audits, variance and trend analysis ?oololl,
