Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a 50% chance of rain, construction should

A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a 50% chance of rain, construction should continue. Another stakeholder says that if there is less than a 60% chance of rain, construction should continue. What should the risk manager do next to find out the correct limit? Perform a sensitivity analysis of the risk Review the agreed-upon risk tolerance Find out the stakeholders' risk appetite Use industry standard risk thresholds

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitality Marketing Management

Authors: Robert D Reid, David C Bojanic

5th Edition

0470088583, 9780470088586

More Books

Students also viewed these General Management questions