Which option describes a proper risk evaluation sequence?

• A. Ignore risks until they occur
• B. Risk mitigation is optional
• C. Identify events, assign probability and impact, calculate risk score, and prioritize mitigation actions
• D. Only assess risk at project initiation

Answer: (C)

Evaluating risk effectively follows a structured sequence. Start by identifying events that could threaten the project. Then assign likelihood and potential impact to each event. With those values, compute a risk score to quantify how significant each risk is, and use those scores to prioritize which mitigation actions to pursue first. This approach turns uncertainty into a ranked, actionable plan and supports focused use of time and resources on the top risks. Approaches that wait for problems to occur are reactive and leave you unprepared. Treating mitigation as optional contradicts standard practice, since planned risk responses should be integrated into the project plan. Limiting risk assessment to the initiation phase misses new threats that arise as the project evolves, or changes in scope or environment, so ongoing reassessment is essential. By following this sequence, you maintain a living view of risk and can adjust strategies as conditions change.