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    RISK MANAGEMENT

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    1. DESCRIBE RISK PREFERENCES AND UTILITY CURVES EXHIBITED BY PROJECT MANAGERS.

    2. DESCRIBE STEPS IN TYPICAL RISK MANAGEMENT PROCESS.

    3. EXPLAIN WHAT OPTIONS ARE OPTEN TO PROJECT MANAGERS TO HANDLE RISK,.

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    https://brainmass.com/business/strategy-and-business-analysis/risk-management-30393

    Solution Preview

    The display of utility curves, help the project managers to formulate relationships and dependencies between the attributes. This process facilitate stakeholer's preferential viewpoint regarding a specific business process design.The steps in the typical risk management process are:
    1. First Establish the context
    2. Identify the risks.
    3. Analyse the risks.
    4. Evaluate the risks
    5. Treat the risks.
    6. Monitor and review
    7. Communicate & consult
    Once the above assessment has been accomplished then a risk management plan should be developed.

    Risk management options are usually know as risk handling options ...

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