Sketch a 2 × 2 risk management assessment matrix and discuss the impact of each quadrant
What will be an ideal response?
A risk management assessment matrix, as shown below, classifies identified risks into one of four quadrants on two scales, the likelihood that the risk occurs and the consequences of the occurrence.
A risk designated as low in likelihood and low in consequence may be of little consequence to the project; even if it occurs, it has little impact. A risk low in likelihood but high in consequence is one that must be accommodated; if it does occur it will wreak havoc on budget, schedule, satisfaction, or quality (or all four). A risk that is high in likelihood but low in consequence should be managed as if it will occur and should receive significant contingency planning. A risk that is high in likelihood and consequence is very serious, and merits serious consideration in the form of contingency planning and mitigation efforts.
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Full-employment output is the amount of output produced when the economy is
A. in recession. B. above the natural rate of unemployment. C. utilizing all of its labor and capital. D. in equilibrium.
Since there are few rules to restrict how an organization chooses to arrange its own internal data for decision making, managerial accounting provides ample opportunity for creativity and change
Indicate whether the statement is true or false
A business segment is a part of a company that is separated by its (1) ________ or (2) ________.
What will be an ideal response?
Most people prefer to read sentences that are approximately ________ words long
A) 12-14 B) 16-18 C) 20-22 D) 10-12