Question

The first phase of a comprehensive project risk assessment should be:

To develop reasonable estimates of the impacts on the project of both the identified risks and the proposed solutions.
To assess the specific sources of risk at the outset of the project, including the need to fashion appropriate responses.
To produce a project risk management plan that proactively offers risk mitigation strategies for the project as needed.
To make sure the project is well defined, including all deliverables, statement of work, and project scope.

Answer 1

The first phase of a comprehensive project risk assessment should be "to make sure the project is well defined, including all deliverables, statement of work, and project scope".

Option: D

Explanation:

A comprehensive risk management framework (RMF) has been established and adopted to better manage the task risks by utilizing a well-defined mechanism in modern changing environment. Many ventures have been studied to determine the reasons of their failure and the risk components.

The RMF composed of six stages; identification of programs, risk analysis, risk evaluation, reaction development, contingency planning, and implementation and control. That procedure must be adapted to the unique circumstances of the task and the agency which undertakes it.