Final answer:
In project risk evaluation, the two dimensions to use are probability and impact, which allow for effective quantification and prioritization of potential project risks. Option a is correct..
Step-by-step explanation:
When evaluating project risks, the two dimensions you should use are probability and impact. This approach allows project managers to assess the likelihood of a particular risk occurring (probability) and to evaluate the potential effect on the project should that risk materialize (impact). Unlike options such as cost and schedule, or negative and positive, probability and impact provide a framework for quantifying and prioritizing risks effectively.
For instance, if a risk has a high probability of occurring and also carries a high impact, it would likely be a priority to address through mitigation strategies. Conversely, a risk with low probability and low impact may be acceptable to monitor with less urgency. When evaluating project risks, the two dimensions that should be considered are probability and impact. Probability refers to the likelihood of a risk occurring, while impact represents the potential consequences or severity of the risk. By assessing these two dimensions, project managers can prioritize risks and implement appropriate mitigation strategies.