Which statement correctly identifies two aspects of the Risk Management Approach?
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ASets out the procedures AND reporting obligations for managing risk
BLists identified risks AND the responses assigned to them
COutlines stage tolerances AND the escalation process
DDescribes product criteria AND how acceptance is determined
ERecords lessons learned AND resulting recommendations
✓ Correct answer: A. Sets out the procedures AND reporting obligations for managing riskThe Risk Management Approach document sets out how risks will be handled, including the procedures to follow and what reporting is required.
Why the other options are incorrect:
• Lists identified risks AND the responses assigned to them: Logging identified risks and their responses is the function of the Risk Register.
• Outlines stage tolerances AND the escalation process: Stage tolerances are addressed within the Progress theme.
• Describes product criteria AND how acceptance is determined: Product acceptance criteria are defined within the Quality theme.
• Records lessons learned AND resulting recommendations: Lessons and associated recommendations are recorded in the Lessons Log.
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