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1. Given then that we each have our own risk tendencies (some people love taking risks, while others avoid it like the plague), how can we determine a risk profile for our project, since each of our organizations has its own tendency to deal with risk?

2. What is an acceptable risk and how would you determine this?

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Solution Summary

Risk Management for a project: What is an acceptable risk and how would you determine this?

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Acceptable risk is the maximum risk that the project sponsor can bear for the project. In order to determine the acceptable risk or risk profile of a project, the organization's management or project sponsors have to decide ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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