Explanation/Reference:
Explanation:
The prioritization of the risk responses and development of the risk response plan is influenced by several parameters:
Cost of the response to reduce risk within tolerance levels

Importance of the risk

Capability to implement the response

Effectiveness of the response

Efficiency of the response

Incorrect Answers:
B: Time required to mitigate risk does not influence the prioritization of the risk and development of the risk response plan. It affects the scheduled time of the project.

Explanation/Reference:
Explanation:
Articulating risk is the first phase in the risk response process to ensure that information on the true state of exposures and opportunities are made available in a timely manner and to the right people for appropriate response. Following are the tasks that are involved in articulating risk:
Communicate risk analysis results.

Report risk management activities and the state of compliance.

Interpret independent risk assessment findings.

Identify business opportunities.

Incorrect Answers:
B: Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level.
Risk mitigation can utilize various forms of control carefully integrated together. This comes under risk response process and is latter stage after articulating risk.
C: Tracking risk is the process of tracking the ongoing status of risk mitigation processes. This tracking ensures that the risk response strategy remains active and that proposed controls are implemented according to schedule.
D: This is not related to risk response process. It is a type of risk. Reporting risks are the risks that are caused due to wrong reporting which leads to bad decision.