Answer:
C). Analysis of probability and consequences phase of risk management.
Step-by-step explanation:
Risk management is one of the crucial process for an organization as it involves the identification, evaluation, and management of the risks or threats that may affect the profitability or the capital.
The given details display that the city leaders have accomplished the 'analysis of the likelihood and the repercussions stage of risk management' as it assesses the potential threat of 'eruption of Mount Rainier which hasn't erupted...since about a thousand years ago' and consequences associated with it('a massive cloud of super-heated ash and rock...live'). Therefore, option C is the correct answer.