Question13 What is the most effective approach for assessing risks in project management?Select one alternative: Identifying potential risks during project execution and responding as they arise. Performing continuous risk assessments throughout the project lifecycle and prioritizing risks based on their potential impact. Conducting a one-time risk assessment at the beginning of the project. Avoiding risk assessment for low-priority tasks to focus on critical path activities. ResetMaximum marks: 2

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BlackTom AI · Accepted Answer

The question asks for the most effective approach to assessing risks in project management, with four options to compare.
Option 1 suggests identifying risks only during execution and responding as they arise. This is a reactive approach that often leads to missed risks and late mitigations; it ignores proactive planning and early detection, making it an inferior strategy.
Option 2 states performing continuous risk assessments throughout the project lifecycle and prioritizing risks by potential impact. This mirrors best practices in risk management: risks are identified, analyzed, and re-evaluated regularly as the project evolves, and prioritization helps allocate resources to the most significant threats, enabling proactive mitigation.
Option 3 proposes a one-time risk assessment at the start of the project. While initial risk identification is important, a single assessment fails to capture changes over time, new risks, or shifting probabilities, so it is not the most effective approach.
Option 4 proposes avoiding risk assessment for low-priority tasks to focus on the critical path. This overlooks the cumulative effect of many smaller risks and the possibility that low-priority tasks could become high-impact issues or influence dependencies, so it is a flawed strategy.
In summary, the strongest method is the one that maintains ongoing risk monitoring and prioritization throughout the project, ensuring that risk responses stay aligned with current conditions and potential impacts.

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