You work as a project manager for BlueWell Inc. You are working with your team members on the risk responses in the project. Which risk response will likely cause a project to use the procurement…

The correct answer is C. Sharing. Sharing a positive risk involves transferring ownership of the opportunity to a third party who is best able to capture the benefit - for example, forming a joint venture or special-purpose company. Because this involves bringing an external party into the project, it requires…

Risk Strategy and Planning

Question

You work as a project manager for BlueWell Inc. You are working with your team members on the risk responses in the project. Which risk response will likely cause a project to use the procurement processes?

Options

AExploiting
BMitigation
CSharing
DAcceptance

How the community answered

(47 responses)

A
2% (1)
B
6% (3)
C
89% (42)
D
2% (1)

Explanation

Sharing a positive risk involves transferring ownership of the opportunity to a third party who is best able to capture the benefit - for example, forming a joint venture or special-purpose company. Because this involves bringing an external party into the project, it requires formal procurement processes (contracts, agreements, vendor selection) to establish and govern that relationship. Exploiting (A) means taking action to ensure the opportunity occurs using internal means. Mitigation (B) reduces the probability or impact of a threat and does not inherently require procurement. Acceptance (D) means doing nothing proactive about the risk.

Topics

#Risk responses#Opportunity management#Risk sharing#Procurement processes

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