Question

A review of the effectiveness of risk responses in dealing with the identified risks and their root causes. Which of the following is the most appropriate process for this?

1) Risk audit
2) Risk response review
3) Risk monitoring and controlling
4) Risk evaluation

Answer 1

A Risk audit is the most fitting process for reviewing the effectiveness of risk responses and analyzing the root causes of risks as part of risk management.

Step-by-step explanation:

The most appropriate process for reviewing the effectiveness of risk responses in dealing with the identified risks and their root causes is a Risk audit. A Risk audit is a thorough examination and evaluation of a project's risk management processes and the effectiveness of the risk responses. This process goes beyond simply reviewing the risks and their responses; it involves a deeper root cause analysis which targets not just the symptoms but the underlying reasons for the risks. It's an essential part of the risk monitoring and controlling process.