A project manager identifies a risk that has a high probability of occurring. How should the project manager manage this risk?

Assigning a dedicated risk manager for one specific risk is usually an overkill and not a standard response for every high-probability risk; risk management is typically a shared responsibility or handled by the PM.

Removing user stories (implying scope reduction) is an avoidance strategy that might be applicable if the risk is unacceptable and can be fully avoided by changing scope, but it's not the primary or only response for a high probability risk that still needs to be managed.

Transferring a risk to a third party (e.g., insurance, outsourcing) is a valid response, but it typically involves a change request and contract, and it's not the *first* or *only* response, especially if monitoring and mitigation are still options.

For risks identified as high probability but not yet actualized, monitoring is a crucial response strategy. Asking the team to monitor the risk ensures ongoing vigilance, allows for early detection if the risk event starts to occur, and enables prompt activation of contingency plans or mitigation efforts if it materializes into an issue.