Question

What can be done to manage risk? Select three:

A. Accept it
B. Transfer it
C. Avoid it
D. Migrate it

Answer 1

To manage risk, one can accept the risk, transfer it to another party, or avoid the risk altogether, depending on the situation and analysis of the risk's potential impact. including business and project management. Each option to manage risk has its context.

Step-by-step explanation:

Three strategies to manage risk include: Accept it: Acknowledge the risk and prepare to deal with the consequences should it occur. Transfer it: Shift the risk to another party, often through insurance or outsourcing. Avoid it: Eliminate the risk by not undertaking the activity that introduces it in the first place.

Managing risk is an important aspect of various fields, including business and project management. Each option to manage risk has its context where it is most applicable, and the choice depends on an analysis of the likelihood and impact of the risk in question.