A teaming agreement is an example of what type of risk response?
A.
Acceptance
B.
Mitigation
C.
Transfer
D.
Share
Explanation:
Teaming agreements are often comes under sharing risk response, as they involves joint ventures
to realize an opportunity that an organization would not be able to seize otherwise.
Sharing response is where two or more entities share a positive risk. Teaming agreements are
good example of sharing the reward that comes from the risk of the opportunity.
Answer A is incorrect. Acceptance is a risk response that is appropriate for positive or negative
risk events. It does not pursue the risk, but documents the event and allows the risk to happen.
Often acceptance is used for low probability and low impact risk events.
Answer C is incorrect. Transference is a negative risk response where the project manager hires a
third party to own the risk event.
Answer B is incorrect. Risk mitigation attempts to reduce the probability of a risk event and its
impacts to an acceptable level. Risk mitigation can utilize various forms of control carefully
integrated together.