Which set represents the valid risk response strategies?

Which set represents the valid risk response strategies?

• A. Proceed, Mitigate, Transfer, Accept
• B. Avoid, Mitigate, Share, Accept
• C. Avoid, Mitigate, Transfer, Reject
• D. Avoid, Mitigate, Transfer, Accept

Answer: (D)

When thinking about managing project risk, there are four recognized response options: avoid, mitigate, transfer, and accept. Avoid means changing the plan to eliminate the risk entirely. Mitigate involves reducing either the likelihood of the risk occurring or its impact if it does occur. Transfer shifts the risk to another party, typically through contracts, insurance, or outsourcing. Accept means acknowledging the risk and preparing to deal with its effects, often with contingency plans or reserves. This set is the valid one because it lists exactly those four standard strategies. Terms like proceeding without adjusting for risk, or rejecting a risk, aren’t formal risk responses in this framework. Similarly, “sharing” risk can be related to transfer, but the canonical four options used in this context are avoid, mitigate, transfer, and accept.

When thinking about managing project risk, there are four recognized response options: avoid, mitigate, transfer, and accept. Avoid means changing the plan to eliminate the risk entirely. Mitigate involves reducing either the likelihood of the risk occurring or its impact if it does occur. Transfer shifts the risk to another party, typically through contracts, insurance, or outsourcing. Accept means acknowledging the risk and preparing to deal with its effects, often with contingency plans or reserves.

This set is the valid one because it lists exactly those four standard strategies. Terms like proceeding without adjusting for risk, or rejecting a risk, aren’t formal risk responses in this framework. Similarly, “sharing” risk can be related to transfer, but the canonical four options used in this context are avoid, mitigate, transfer, and accept.