A critical piece of equipment broke during a project execution phase. The risk manager notices this risk in the risk register, and the response is to rent equipment until the critical piece is repaire

The correct answer is C. Mitigate. Mitigation is a risk response strategy that reduces the probability or impact of a threat. Renting replacement equipment reduces the impact of the broken equipment risk by ensuring the project can continue operating - it does not eliminate the risk but lessens its effect on the p

Risk Monitoring and Reporting

Question

A critical piece of equipment broke during a project execution phase. The risk manager notices this risk in the risk register, and the response is to rent equipment until the critical piece is repaired. What type of risk response is this?

Options

ATransfer
BAccept
CMitigate
DAvoid

How the community answered

(22 responses)

A
5% (1)
B
14% (3)
C
73% (16)
D
9% (2)

Explanation

Mitigation is a risk response strategy that reduces the probability or impact of a threat. Renting replacement equipment reduces the impact of the broken equipment risk by ensuring the project can continue operating - it does not eliminate the risk but lessens its effect on the project. Transfer (A) would shift the financial or operational consequence to a third party, such as through insurance or a vendor contract. Avoid (D) would eliminate the risk entirely, such as by redesigning the work to not need that equipment. Accept (B) would mean acknowledging the risk and taking no proactive steps. Because the team is actively reducing the negative impact through a contingency action, this is mitigation.

Topics

#Risk response strategies#Risk mitigation#Contingency planning#Risk execution

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