True$/$False

Failure to follow a formal risk management plan will often cause organizations to be reactive and find themselves in a state of perpetual crisis, a condition known as crisis management.

The best time to plan for risk is during the project execution phase when risk can be assessed most accurately.

Effective project risk management requires that each risk have an owner.

In general, because of the similarities in IT projects, one can manage all projects and risks in the same manner.

Project risk management focuses solely on the downside of risk that results from unexpected problems or threats.