solved Respond to the each question 1. The risk management planning
Respond to the each question
1. The risk management planning processes encompasses several general areas, including organizational structure, risk tolerance, and mitigation vs. elimination. Share at least two examples that compare how organizations’ different structures, risk tolerances, and mitigation strategies affect risk management planning. Â
For example, an organization structured along functional lines might ________ with respect to risk management planning, while an organization with project-based structure might instead ________. An organization with high tolerance might _______ with respect to risk management planning, while an organization with low tolerance might _____. An organization seeking to mitigate risk might _________ with respect to risk management planning, while an organization seeking simply to eliminate risk altogether might _____________.
2. Take a quick look at the following as you prepare to answer the discussion question and address this weeks assignment: Risk Response Strategies
Ask yourself, “What is the best risk solution given a cost/benefit trade off?”
3. Everyone.. Some consider “Acts of God” Unknown Unknown risk (e.g. COVID-19 perhaps) made famous by former Secretary of State Donald Rumsfeld, a category of risk different from “external” issues .
View this: Donald Rumsfeld Unknown Unknowns !
Read this: characterizing-unknown-unknowns
Would you agree or disagree with unknown unknown risk as noted in the video and reading? Explain how this type of risk may affect the procurement process?