Project Manager should be changes as 7. An organisation operates with separate and independent risk management, compliance and audit functions. The organisation's board of directors should be aware that Page 15 Answer: All costs will be reduced and more risks will be eliminated. Holistic risk management processes will be more effective across the organisation c) This is likely to create a more robust approach to managing risk. - d) Work will often be duplicated and costs will usually be increased. 8. One of the primary reasons that an organisation should monitor and regularly review its risk management process is to Answer: A. consider whether lessons could be learned for future management of risks. B. ensure that all significant risks are eliminated immediately. C. evidence that all risks are measured in financial terms only. D. evidence that an internationally-recognised framework is followed at all times. 9. A risk manager in an organisation is evaluating a risk and multiplies the probability of the risk occurring with the potential impact. The result of the calculation is the production of a risk Answer: A. appetite. B. control. C. factor - D. matrix