# Risk and change

> An uncertain event or condition that could affect objectives.

Course: [Project management foundations](https://studybrix.com/en/courses/project-management/index.md)
Level: university
Prerequisites: No prior project-management course required.

## Notes

### Risk

An uncertain event or condition that could affect objectives.

### Mitigation

An action intended to reduce risk likelihood or impact.

### Issue

A problem that has already occurred and needs management.

### Change control

A defined process for evaluating and approving changes to scope, schedule or other baselines.

## Practice questions

### 1. Which term best matches this description: An uncertain event or condition that could affect objectives.

A. Mitigation
B. Change control
C. Issue
D. Risk

Answer: Risk

Explanation: Risk is the matching concept in this lesson.

### 2. Which term best matches this description: An action intended to reduce risk likelihood or impact.

A. Mitigation
B. Risk
C. Issue
D. Change control

Answer: Mitigation

Explanation: Mitigation is the matching concept in this lesson.

### 3. Which concept would you apply first in a situation where a problem that has already occurred and needs management.

A. Risk
B. Change control
C. Issue
D. Mitigation

Answer: Issue

Explanation: The scenario directly calls for Issue.

### 4. Name the concept described as: A defined process for evaluating and approving changes to scope, schedule or other baselines.

Answer: Change control

Explanation: The intended concept is Change control.

### 5. Which statement about Risk is most accurate?

A. A problem that has already occurred and needs management.
B. A defined process for evaluating and approving changes to scope, schedule or other baselines.
C. An action intended to reduce risk likelihood or impact.
D. An uncertain event or condition that could affect objectives.

Answer: An uncertain event or condition that could affect objectives.

Explanation: The definition in the lesson notes gives the required condition.

### 6. Explain one important difference between Risk and Mitigation.

Sample answer / marking guidance: Risk: An uncertain event or condition that could affect objectives. Mitigation: An action intended to reduce risk likelihood or impact.

Explanation: Credit a clear distinction using both definitions and an appropriate example if supplied.

### 7. Give a short example showing how Issue would be used in practice.

Sample answer / marking guidance: A valid example should demonstrate this idea: A problem that has already occurred and needs management.

Explanation: Credit a relevant scenario that applies the concept rather than merely naming it.

### 8. Summarize why Change control matters in the lesson “Risk and change”.

Sample answer / marking guidance: Change control matters because A defined process for evaluating and approving changes to scope, schedule or other baselines.

Explanation: Credit the core purpose, scope and any important limitation from the notes.

## Further reading

- https://www.pmi.org/learning/library

Original AI-assisted educational draft; not independently teacher-reviewed. References support further study, not copied exercises, affiliation or curriculum accreditation.