You are the project manager of the HJK project for your organization. You and the project team have created risk responses for many of the risk events in the project. A teaming agreement is an example

The correct answer is B. Sharing. A teaming agreement is a formal arrangement where two or more organizations collaborate to jointly pursue an opportunity or manage a risk. This is an example of the 'Sharing' risk response strategy, which is used for positive risks (opportunities) or when the risk's upside or dow

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Question

You are the project manager of the HJK project for your organization. You and the project team have created risk responses for many of the risk events in the project. A teaming agreement is an example of what risk response?

Options

AMitigation
BSharing
CAcceptance
DTransference

How the community answered

(23 responses)

B
91% (21)
C
4% (1)
D
4% (1)

Explanation

A teaming agreement is a formal arrangement where two or more organizations collaborate to jointly pursue an opportunity or manage a risk. This is an example of the 'Sharing' risk response strategy, which is used for positive risks (opportunities) or when the risk's upside or downside is distributed across parties. Sharing involves allocating ownership of a risk to a third party best positioned to handle it. It differs from Transference (which shifts the entire burden, typically via insurance or contracts), Mitigation (which reduces probability/impact), and Acceptance (which acknowledges the risk without taking action). Because a teaming agreement establishes mutual accountability and joint reward/risk, it is definitively a sharing strategy.

Topics

#Risk Management#Risk Response Strategies#Teaming Agreements#Project Risk

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