Risk management is a key management process that must be used at every level, whether managing a project, a program, or an enterprise. Managing risk is important in keeping a business competitive and must be done by managers at all levels. Both qualitative and quantitative risk assessment approaches must be used to manage risk effectively, and a number of approaches were presented in this chapter. Understand that it is impossible to conduct a purely quantitative risk assessment, but it is possible to conduct a purely qualitative risk assessment.
1. Which of the following correctly defines qualitative risk management?
A. The loss resulting when a vulnerability is exploited by a threat
B. To reduce the likelihood of a ...