BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When planning a response to a threat to your project you could choose the option of
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Plan, assign, respond
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Monitor, transfer, reduce
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Accept, monitor, release
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Accept, avoid, transfer, reduce
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Explanation:
Detailed explanation-1: -There are three proactive approaches to handling a negative risk, also called a threat: Avoid – eliminate the risk. Transfer – shift the impact to a 3rd party. Mitigate – decrease the probability or impact.
Detailed explanation-2: -Since project managers and risk practitioners are used to the four common risk response strategies (for threats) of avoid, transfer, mitigate and accept, it seems sensible to build on these as a foundation for developing strategies appropriate for responding to identified opportunities.
Detailed explanation-3: -Mitigate. In this risk response strategy, the project team will try to minimize the probability of occurrence or impact of a risk.
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