It is the actual process by which identified risks are monitored and controlled.

• Risk Management

• Risk Register

• Risk Control

• Risk Tracking

This is an estimate of the overall scale of the impact following an occurrence of each risk.

• Risk Probability

• Risk Impact

• Risk Assessment

• Risk Control

Which is not a type of Risk Response?

• Accept

• Avoid

• Investigate

• Transfer

It can be defined as an unplanned event that has happened, which requires management actions.

• Incident

• Issue

• Error

• Risk

It describes how all the components and activities of the organization work together as a system to enable value creation.

• Service Value Chain

• Service Value Creation

• Service Value System

• Service Value Management

It's a set of interconnected activities that an organization performs in order to deliver a valuable product or service to its consumers and to facilitate value creation.

• Service Value System

• Service Value Creation

• Service Value Management

• Service Value Chain

Which is not a part of Service Value Chain Activities

• Plan

• Investigate

• Engage

• Design and Transition

Options or possibilities to add value for stakeholders.

• Demand

• Opportunities

• Key Ask

• Probabilities

It is the recognition, assessment and control of uncertainties that may result in schedule delays, cost overruns, performance problems, adverse environmental impacts or other undesired consequences.

• Issue Management

• Risk Management

• Issue Assessment

• Risk Assessment

The need or desire for products and services among internal and external consumers.

• Expectations

• Demand

• Opportunities

• Necessities