After reading chapter-7 from the attached text book explain what are the important concepts from chapter and why they are important and answer below questions. Minimum two pages assignment.
1. Give some examples of projects using each of the risk mitigation strategies (accept, minimize, share, or transfer). How successful were these strategies? In hindsight, would another approach have been better?
2. Consider the following observation: “The problem with risk analysis is that it is possible to imagine virtually anything going wrong on a project. Where do you draw the line? In other words, how far do you take risk analysis before it becomes overkill?” How would you respond?