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You work as a project manager for BlueWell Inc. You are preparing to plan risk responses for your project with your team. How many risk response types are available for a negative risk event in the project?
There are four risk responses available for a negative risk event.
The risk response strategies for negative risks are:
Avoid: It involves altering the project management plan to remove the threats completely.
Transfer: It requires shifting some or all of the negative effects of a threat including the ownership of response, to a third party.
Mitigate: It implies a drop in the probability and impact of an unfavorable risk event to be within suitable threshold limits.
Accept: It delineates that the project plan will not be changed to deal with the risk. Management may develop a contingency plan if the
risk occurs. It is used for both negative and positive risks.
Answer C is incorrect. There are four responses for negative risk events.
Answer A is incorrect. There are four, not three, responses for negative risk events. Do not forget that acceptance can be used for
negative risk events.
Answer B is incorrect. There are seven total risk responses, four of which can be used for negative risk events.