Question: You have identified several risks on your project for which purchasing insurance is a possibility. The insurance company your firm uses has quoted reasonable rates,

You have identified several risks on your project for which purchasing insurance is a possibility. The insurance company your firm uses has quoted reasonable rates, and your analysis shows that purchasing insurance makes sense as a contingency plan in these cases. Your organization has a low threshold for risk but wants to keep costs in line as the profit margin on the product of this project is low. The strategy of purchasing insurance is best considered an example of risk: A. Escalation B. Transference C. Acceptance D. Avoidance

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