An important team member will not be available to complete a project. The project manager selects a new team member and trains the new team member on the project tasks. The project manager is using wh

Monitoring the risk involves tracking identified risks, identifying new risks, and evaluating risk process effectiveness, but not actively changing the risk's probability or impact.

Risk mitigation involves taking steps to reduce the probability or impact of a risk event. By finding a replacement and training them, the project manager is actively lessening the potential negative impact of the original team member's absence on the project, thereby mitigating the risk.

Acceptance of the risk means acknowledging the risk without taking any action, either because the impact is low or the cost of mitigation is too high.

Transference of the risk involves shifting the responsibility or impact of a risk to a third party, often through insurance or outsourcing.