Jane is the project manager of the NHJ Project for his company. He has identified several positive
risk events within his project and he thinks these events can save the project time and money.
Positive risk events, such as these within the NHJ Project are referred to as?

A.
Contingency risks

B.
Benefits

C.
Residual risk

D.
Opportunities

Explanation:

A positive risk event is also known as an opportunity. Opportunities within the project to save time
and money must be evaluated, analyzed, and responded to.
Answer A is incorrect. A contingency risk is not a valid risk management term.
Answer B is incorrect. Benefits are the good outcomes of a project endeavor. Benefits usually
have a cost factor associated with them.
Answer C is incorrect. Residual risk is the risk that remains after applying controls. It is not
feasible to eliminate all risks from an organization. Instead, measures can be taken to reduce risk
to an acceptable level. The risk that is left is residual risk.