When a project team elects to purchase insurance, or adopts a fixed price contract with a vendor, or hires an expert, it is demonstrating which of the following risk response strategies? a. assume a threat b. avoid a threat c. mitigate a threat d. transfer a threat

Question

Rhett Allison

Business

3 February, 10:02

When a project team elects to purchase insurance, or adopts a fixed price contract with a vendor, or hires an expert, it is demonstrating which of the following risk response strategies? a. assume a threat b. avoid a threat c. mitigate a threat d. transfer a threat

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Answers (1)

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Ashlee Rose · Answer 1

d. transfer a threat

Explanation:

When a project team elects to purchase insurance, or adopts a fixed price contract with a vendor, or hires an expert, it is demonstrating the risk management technique of transferring a threat. This refers to the act of outsourcing the risk to a third party who will take all the responsibility of dealing with the outcome of the risk.