There are a number of risks that have been identified in your project. The team has elected not to change the project plan to deal with the risk, but they have established a contingency reserve of money in the event some of these risks are triggered. This is an example of what type of risk mitigation technique?
A. Contingent Response Strategy B. Active acceptance C. Passive acceptance D. Avoidance
As part of a strategy to handle negative risk, a project manager decided to adopt less complex processes, conduct more tests and choose a more stable supplier. What strategy would this be classified as?
A. Acceptance B. Transference C. Mitigation D. Avoidance
You are managing a fund raising golf tournament that has a hole-in-one contest. However, your company can’t afford to pay the $1,000,000 award if someone does get a hole in one, so they have elected to take out an insurance policy in the event that someone does get lucky. This is an example of?
A. Sharing B. Mitigation C. Transference D. Avoidance