How to Manage Risk Events Effectively

Which risk event should be given the most attention?

Event II should probably get the most attention and Event _____ should probably get the least.

Answer

Event II should probably get the most attention and Event III should probably get the least.

From the given information, we have an event, the probability, and the cost. Event II has a probability of 0.6 and a cost of $54. This means that it should be given the utmost importance because the event has the highest cost among all other events.

On the flip side, Event III should probably get the least attention because the cost involved is the least. Event III has a probability of 0.1 and a cost of $12.

Therefore, Event II should probably get the most attention and Event III should probably get the least.

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