Question

Any number of risks of a relatively minor nature may be present in a project as a matter of course. However, because the likelihood of their occurrence is so small or the consequences of their impact are so minor, they may be judged ____ and ignored.

a. Negligible
b. Essential
c. Pervasive
d. Catastrophic

Answer 1

In project risk management, risks that are very low in probability or impact may be judged negligible and thus can be ignored, allowing focus on more critical risks.

Step-by-step explanation:

When assessing project risks, those with a very low probability of occurring or with minor consequences if they do occur may be judged negligible and ignored. This approach is based on risk management strategies, where not all risks are treated equally. Significant focus is given to risks which could result in catastrophic outcomes, even if their likelihood is relatively low, because the negative impact could be devastating. Hence, such risks warrant attention and mitigation plans. On the other hand, risks deemed negligible have minimal impact and do not justify the allocation of resources to address them.