question 2 - PART 1 - Define the term: Risk assessment: the...

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PART 1 - Define the term : Risk assessment : the process of identifying and analysing program areas and critical technical process risks to increase the likelihood of meeting costs, performance, and schedule objectives. o Risk identification : the process of examining the program areas and each critical technical process to identify and document the associated risk. o Risk analysis : the process of examining each identified risk issue or process to refine the description of the risk, isolating the cause and determining the effects. Help management to decide which risks are worth pursuing, and which should be shunned . Risk management : the act or practice of dealing with risk including: o Planning for risks, assessing risk issues o Developing risk handling options o Monitoring risks to determine how risks have changed o Documenting the overall risk management programme. Help a business avoid cost, disruption, unhappiness PART 2 - Identify and assessing risk Type of risk
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question 2 - PART 1 - Define the term: Risk assessment: the...

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