How many risk response types are available for a negative risk event in the project?

You work as a project manager for BlueWell Inc. You are preparing to plan risk responses for your project with your team. How many risk response types are available for a negative risk event in the project?

A.
Seven

B.
Three

C.
One

D.
Four

Explanation:

There are four risk responses available for a negative risk event.
The risk response strategies for negative risks are.
Avoid. It involves altering the project management plan to remove the threats completely. Transfer. It requires shifting some or all of the negative effects of a threat including the ownership of response, to a third party.
Mitigate. It implies a drop in the probability and impact of an unfavorable risk event to be within suitable threshold limits.
Accept. It delineates that the project plan will not be changed to deal with the risk. Management may develop a contingency plan if the risk occurs. It is used for both negative and positive risks. Answer option C is incorrect. There are four responses for negative risk events. Answer option B is incorrect. There are four, not three, responses for negative risk events. Do not forget that acceptance can be used for negative risk events.
Answer option A is incorrect. There are seven total risk responses, four of which can be used for negative risk events.