What is the difference between avoiding a risk and accepting a risk?

QSO 340 – Module Five Homework Assignment

Instructions:

Please answer the following questions. Your responses should be between 100 and 150 words, double-spaced, and follow the American Psychological Association (APA) Publication Manual, 6th Edition.

Questions:

  1. What is the difference between avoiding a risk and accepting a risk?
  2. What is the difference between mitigating a risk and contingency planning?
  3. Explain the difference between budget reserves and management reserves.
  4. What are the differences between bottom-up and top-down estimating approaches?  Under what conditions would you prefer one over the other?
  5. What are the major types of costs? Which costs are controllable by the project manager?

Solutions:

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