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How effective is sourcing out as a risk transfer technique? does it really help?

Risk Reduction Risk Management Project Management
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Question added by Muhammad Shakeel Chaudhry , Dy General Manager , Classified
Date Posted: 2013/11/14
Upvote (2) Views (5) Followers (3) Answers (3) Report Question
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Nancy Refai
by Nancy Refai , Health, safety and environmental management Trainer and consultant , Freelancer

transferring risk through outsourcing definitely works as it reduces the financial losses burden however when taking the decision of outsourcing one should remember that unlike insurance outsourcing means sharing profit as Loss most of the time

Ahmad Salameh
by Ahmad Salameh , Deputy Resident Engineer- Technical and Quality Assurance Manager , Arabtech Jardaneh

can work out but should not be kept without decission for long time

Anood Elutaibi
by Anood Elutaibi , Quality and Development Manager , Knight of Knowledge International Schools

release risk is good idea at same time need good technique to handle it such as :

- find good outsource

- create official contract has all risk 

- approval from stakeholders

- 

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