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A critical piece of equipment broke during a project execution phase. The risk manager notices this risk in the risk register, and the response is to rent equipment until the critical piece is repaired.
What type of risk response is this?
Suggested Answer: A
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33 comments · newest first
SH
Shalon
11 months ago
This is a classic example of risk mitigation.
JO
Joana
11 months ago
Really? Renting seems like a temporary fix, not a full solution.
SA
Samira
12 months ago
Renting equipment? Sounds like a smart move to me!
KA
Karan
12 months ago
I think it's more of an accept situation.
ME
Melina
1 year ago
That's definitely a mitigate response!
SE
Serita
1 year ago
This is tricky! I thought avoid meant completely eliminating the risk, but here they are just renting. Could it be a form of acceptance too?
KI
King
1 year ago
I remember a practice question where we discussed transferring risk, but that was more about insurance. Renting seems like a direct response to keep the project going, so I lean towards mitigate.
DA
Dannie
1 year ago
I'm not entirely sure, but renting equipment feels like a way to accept the risk temporarily. Maybe it's more about managing the situation rather than fully mitigating it?
FI
Fidelia
1 year ago
I think this might be a mitigation response since they are taking action to reduce the impact of the broken equipment by renting another one.
DE
Devon
1 year ago
I've got this one! The risk manager is renting equipment to address the broken critical piece, which means they're taking action to reduce the impact of the risk. That's the definition of Mitigate, so the answer is C.
MA
Margurite
1 year ago
Okay, let me think this through. The risk is the broken critical piece of equipment, and the response is to rent equipment until it's repaired. That sounds like a way to reduce the impact of the risk, so I'm going to go with Mitigate.
AN
Anabel
1 year ago
This seems like a straightforward risk response question. I think the answer is Mitigate, since renting equipment to address the broken critical piece is a way to reduce the impact of the risk.
WA
Wade
1 year ago
Hmm, I'm not sure about this one. Is it Mitigate or Transfer? I'm a bit confused since the risk manager is renting equipment, but I'm not sure if that counts as transferring the risk or mitigating it.
OR
Oretha
1 year ago
I'm a bit unsure about this one. I'll try to eliminate the options that I know are wrong first.
WE
Werner
1 year ago
I feel like continually evaluating audit results could be important, but I'm not convinced it's the best way to ensure support from other departments.
LE
Leonora
1 year ago
I think fcroute is something I've seen in similar practice questions. It might show the path, but I can't recall if it tests actual communication.
BL
Blair
1 year ago
You know, if I were the risk manager, I'd just throw the broken piece out the window and call it a day. That's what I call the 'ostrich' risk response - stick your head in the sand and hope the problem goes away!
GR
Gregoria
1 year ago
Haha, good one! I bet the project manager is just praying the repair takes less time than finding a new critical piece. That's what we call 'accepting the risk' with a side of wishful thinking.
JA
Jamal
1 year ago
Hold on, guys. What if the project manager just decides to scrap the whole thing and start over? Wouldn't that be avoiding the risk altogether?
ER
Erick
1 year ago
It's important to weigh the pros and cons of each risk response strategy. In this situation, mitigation through renting equipment seems to be the most appropriate choice.
VA
Vashti
1 year ago
Avoiding the risk by starting over could lead to delays and additional costs. Mitigating the risk through renting equipment is a more practical solution in this case.
OR
Ora
1 year ago
But starting over may not always be feasible or cost-effective. Mitigating the risk by renting equipment allows the project to continue with minimal disruption.
JO
Joaquin
1 year ago
Starting over would be considered an 'Avoid' response. This means completely eliminating the risk by changing the project plan or approach.
PR
Princess
1 year ago
I'm not so sure about that. Transferring the risk to a rental company sounds more like a transfer to me. The risk manager is passing the responsibility to someone else.
TI
Tiffiny
1 year ago
Mitigation involves taking actions to reduce the impact or likelihood of a risk event.
WI
Wilbert
1 year ago
Transferring the risk to a rental company sounds more like a transfer to me.
TE
Tesha
1 year ago
Renting equipment until the critical piece is repaired is a 'Mitigate' response.
KE
Kerry
2 years ago
I disagree, I think the risk response is to mitigate the risk by repairing the critical piece of equipment.
JO
Jonelle
2 years ago
This seems like a classic case of mitigation. Renting equipment to cover for the broken critical piece is a proactive way to reduce the impact of the risk.
JA
Jacquelyne
2 years ago
B) Accept
NA
Na
2 years ago
A) Transfer
ES
Estrella
2 years ago
I agree with Makeda, transferring the risk by renting equipment seems like the best option in this situation.
MA
Makeda
2 years ago
I think the risk response is to transfer the risk by renting equipment.