Question: You have identified a risk that at a certain point in your project you may need extra quantities of a consumable which you thought of

You have identified a risk that at a certain point in your project you may need extra quantities of a consumable which you thought of earlier. The chance of this event occurring is 20% and if it occurs it will cost you 150 USD. So, you develop a contingency plan for this risk and assign a risk owner. What kind of risk response strategy is this?

(a) Transfer

(b) Avoid

(c) Mitigation

(d) Accept

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