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A. Mitigation B. Acceptance C. Avoidance D. Analysis
Risk Avoidance is close to be the right one
i think that correct Answer is A: Mitigation
The choices of response strategies for THREATS include:
AVOID: Focus on eliminating the cause and thus, eliminating the threat.
MITIGATE: There are certain risks that cannot be eliminated. However, their impact can be reduced. This is termed as mitigation of risks.
TRANSFER: Transfer the risk to some other party. Insurance purchases, warranties, guarantees, etc are examples of risk transfers.
Deflection or transfer of a risk party is called transference and it normally occur in project managements.other method are Acepting risk,avoiding risk and mitigatios.and other types of risk include market,Credit,Liquidity and operational risk
Correct Answer is A: Mitigation
Deflection or transfer of a risk to another party is part of which of the following risk response categories
Mitigation
Transer of risk to another party is a case of risk mitigation. For eg taking insurance cover will not avoid the risk but it will definitely mitigage the risk in case of an untoward incident.
Risk avoidance is relevant when the risk is completely avaoided. For eg to avoid a particular risk business had decided not to pursue with the project. Here the risk is completed avoided.
From the given options I feel mitigation is the best suiting answer. Last three options are purely irrelevant. Transfer of risk to another party may be done by means of following some options, like assigning particular work to the third part, taking insurance, warranties & guarantees etc.
I think that question is not clear because there are four risk response and one of them is transfer. I think the best option as given above is mitigation in this scenario because acceptance and avoidance is irrelevent option.
Mitigation is the correct answer..
