Risk Responses Flashcards
1
Q
What is the risk response when a risk or an opportunity is beyond the project scope?
A
Escalate to management
2
Q
What is the risk response when a risk or an opportunity is bypassed?
A
Avoidance
3
Q
What is the risk response when a risk or an opportunity is managed by reducing the probability or impact?
A
Mitigation
4
Q
What is the risk response when a risk is so small that nothing is done?
A
Acceptance
5
Q
When a third-party is hired to deal with a risk the strategy is called _.
A
Transference
6
Q
A positive risk strategy for increasing the probability and/or impact of an opportunity is called _.
A
Enhancement
7
Q
To take advantage of a positive risk is to _ it.
A
exploit
8
Q
To allow other organizations or projects to also partake in an opportunity is to _ it.
A
share
