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