Final answer:
Risk monitoring and control is a collective responsibility shared by the risk management group, project team members, and the project manager. Collective action problems are less severe in small groups due to less opportunity for free riding, easier monitoring of individual behaviour, and stronger peer pressure.
Step-by-step explanation:
The responsibility for risk monitoring and control falls on d) all of the above. This includes the risk management group, project team members, and the project manager. Each plays a crucial role in identifying, monitoring, and controlling risks associated with a project. The risk management group develops and implements the risk management plan. The project team members are often the ones who encounter risks first-hand and are instrumental in their identification and in carrying out the necessary risk response actions. The project manager oversees the entire process, ensuring that risks are effectively managed throughout the project lifecycle.
When discussing collective action problems in small versus large groups, the statement that they are less severe in small groups is indeed true. The correct answer to the given option is d) All of the above, which includes a, b, and c. This is because, in small groups, individuals are less able to hide and free-ride on the efforts of others; it is easier to monitor individual behaviour, and peer pressure is generally stronger and more effective at enforcing group norms. In conclusion, the dynamics of small groups facilitate better accountability and contribution among members.