Section: Volume A
Explanation:
Risk identification is an iterative process because new risks may evolve or become known as the project progresses through its life cycle.
Incorrect Answers:
A: Stakeholders are encouraged to participate in the risk identification process, but this is not the best choice.
B: Risk identification focuses on discovering new risk events, not the events which did not happen.
D: The primary reason for iterations of risk identification is to identify new risk events.

Section: Volume C
Explanation:
Risk communication is a critical part in the risk management process. People are naturally uncomfortable talking about risk and tend to put off admitting that risk is involved and communicating about issues; incidents; and; eventually, even crises.
If risk is to be managed and mitigated, it must first be discussed and effectively communicated throughout an enterprise.
Incorrect Answers:
B: Auditing is done to test the overall risk management process and the planned risk responses. So it is the very last phase after completion of risk management process.
C: Risk monitoring is the last phase to complete risk management process, and for proper management of risk it should be communicated properly. Hence risk communication is the most crucial step.
D: Risk mitigation is one of the phases of risk management process for effective mitigation of risk it should be first communicated throughout an enterprise.

Section: Volume D