Suppose a project has many hazards that could easily injure one or more persons and there is no method of avoiding the potential for damages. The project manager should consider __________ as a means of deflecting the risk.

Related MCQs

• Which of the statement are true? A. Risk retention and risk transfer are some of the techniques to manage risks. B. Implementation is one of the steps in risk management
• Which of the statements is correct? A. One of the methods of risk retention is by way of voluntary excess or deductible available under the policy. B. Another method of retention of risk is to absorb small losses as normal operating expenses of business.
• Risk management can be defined as the art and science of _________ risk factors throughout the life cycle of a project.
• __________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.
• When should a risk be avoided?
• ________ means to make good the actual loss and nothing more than the actual loss.
• Risk management information system is not useful in one of the following
• _____________ Policy issued on the basis of the number of persons assured.
• Which of the statements are true? A. Loss prevention and loss reduction mean different things. B. Risk maybe transferred by contract.
• Which of the statements is correct? A. The simplest way to deal with a risk is to avoid it. B. This technique is always possible and practical.