Build Ltd is a company that provides building design and construction services. Build Ltd is three months into a major project and has a project team that is responsible for the successful completion of this project, including managing all financial, risk and operational aspects.
Which one of the following statements in relation to risk management is correct?
A. Build Ltd should focus on minimizing all risks using interactive control.
B. Diagnostic controls should be used to monitor known risks.
C. Some risks cannot be foreseen, so Built Ltd should focus on those risks that it can forecast and manage.
D. Built Ltd should create a separate high-level risk management team to establish contingency responses.
This multiple choice question belongs to Operations Management and it discusses about the activities of a construction company which include managing financial, risk and operational aspects.
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