what risk response?

You are the project manager of the HJK project for your organization. You and the project team have created risk responses for many of the risk events in the project. A teaming agreement is an example of what risk response?

A.
Transference

B.
Sharing

C.
Acceptance

D.
Mitigation

Explanation:

Teaming agreements are often used in the sharing risk response through 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. Risk sharing deals with sharing of responsibility and accountability with others to facilitate the team with the best chance of seizing the opportunity. Teaming agreements are good example of sharing the reward that comes from the risk of the opportunity.
Answer option D is incorrect. Mitigation is a negative risk response to lower the probability and/or impact of a risk event.
Answer option A is incorrect. Transference is a negative risk response where the project manager hires a third party to own the risk event. The risk ownership is transferred to the third party. Answer option C 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. Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"