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You've identified a risk event on your current project that could save $500,000 in project costs if it occurs. Your organization is considering?

hiring a consulting firm to help establish proper project management techniques in order to assure it realizes these savings. Which of the following is true based on this statement? (Choose the best answer.)

A. This is a risk event that should be accepted, because the rewards outweigh the threat to the

project.

B. This a risk event that should be shared to take full advantage of the potential savings.

C. This risk event should be mitigated to take advantage of the savings.

D. This risk event is an opportunity to the project and should be exploited.

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Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2017/05/05

My answer is B 

 

B. This a risk event that should be shared to>>>>

Abdul Rehman
by Abdul Rehman , Electrical Engineer , Tamdeed Projects

Thank you for the invitation. My answer is B

Zaferullah Sharief, PMP®
by Zaferullah Sharief, PMP® , Project Manager , Huawei Technologies

Option B is the correct choice

Niji Padma Gosh
by Niji Padma Gosh , Manager - Operations , Universal Mechanical Services

Thanks for your invite

In my opinion, there are two answers to this question.

Option 1 is answer D: This is the first choice that it should be exploited. Exploiting a risk means you will do everything so that you can increase the chance of it happenng. Here the full benefit will come to you if permitted or if the decision can be made by yourself.

Option 2 is answer B: Sometimes the risk will have to be shared if you cant get the full benefit by working alone or as another party is also required in taking the decision.

So the answer or correct option will depend on the situation.

Muhammad Umar Farooq
by Muhammad Umar Farooq , IT Program Leader , Petro Rabigh

D. This is an opportunity and it must be exploited. Hiring a consulting firm does not mean that you are sharing this opportunity with them.

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يوسف دمدوم
by يوسف دمدوم , مهندس و مسير , مقاولة اشغال البناء

Thank you for the invitation 

i agree the option B

DR MD ANWAR HOSSAIN
by DR MD ANWAR HOSSAIN , Moderator , bayt.com

Thank you. I seem option B is a good answer.

B. This a risk event that should be shared to take full advantage of the potential savings

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