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PMI-RMP - Risk Attitudes and Biases - Optimism Bias in Risk Estimation
Intermediate
1/12
In quantitative risk analysis, which of the following represents the concept of 'Risk Appetite' in numerical terms?
a.
The total sum of all risk impacts multiplied by their respective probabilities across the project lifecycle phases
b.
The maximum acceptable variance from project objectives expressed in percentage or monetary values
c.
The mathematical product of risk probability thresholds and the organization's financial reserves
d.
The statistical average of historical risk tolerance levels from previous similar projects in the organization
Intermediate