BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a response category to a threat?
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Accept
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Reduce
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Avoid
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All of these
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Explanation:
Detailed explanation-1: -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-2: -The main risk response strategies for threats are Mitigate, Avoid, Transfer, Actively Accept, Passively Accept, and Escalate a Risk. (Risk Response Strategy or Risk Response Plan is the same thing in essence. You can use terms interchangeably.)
Detailed explanation-3: -The five basic strategies to deal with negative risks or threats are Escalate, Avoid, Transfer, Mitigate and Accept.
There is 1 question to complete.