Which of these statements about the project risk analysis and management program is BEST? Different risk management strategies should be deployed at various points in the project life cycle. If a choice between accepting and transferring risk presents itself, risk should be transferred. Risk management is best handled using an ad hoc approach. The project manager should choose a small subset of all risk management tools.

The best statement about project risk analysis and management program is

"If a choice between accepting and transferring risk presents itself, risk should be transferred".

Explanation:

Project Risk Analysis and Management is a systematic process for managing risks associated with a project.

The aim of risk analysis and management is to increase the successful completion of projects within the targeted duration and cost effective projections budgeted for.

The best statement about project risk analysis and management program is  

"If a choice between accepting and transferring risk presents itself, risk should be transferred".

Transferring is a very responsive way of mitigating risks by making provision ahead of time for handling risks when they arise with the help of another entity such as an insurance company.

It is not only ideal, it is also affordable.

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