Question: Project Manager John Boy has a policy of only using experienced, dependable, and proven sellers instead of selecting sellers through open competition as a means

  1. Project Manager John Boy has a policy of only using experienced, dependable, and proven sellers instead of selecting sellers through open competition as a means to manage procurement risk. What risk management technique is John Boy using?

A. Risk Acceptance.

B. Risk Mitigation.

C. Risk Transfer

D. Risk Avoidance.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

For the system shown below, what should the distance X be for the system to be in equilibrium. 6 lbs 6 lbs 7 lbs 8 lbs 3ft 3ft 2ft Xft

Q:

Manager John Boy has a policy of only using experienced, dependable, and proven sellers instead of selecting sellers through open competition as a means to manage procurement risk. What risk...

Q:

dependable, and proven sellers versus selecting sellers through open competition as a means to manage procurement risk. What risk management technique is John Boy using?

Q:

Which of the following is a true statement about Procurement Documents? Question 1 options: Procurement Documents should be structured to facilitate accurate and complete responses from prospective...

Q:

Project Manager John has a policy of only using experienced, dependable, and proven sellers versus selecting sellers through open competition as a means to manage procurement risk. What risk...

Q:

PROJ6000: Principles of Project Management Assessment 3 - Project Charter Report. Length 2,000 words (+/- 10%) Task Summary After reading the project case study, use it to develop a 2,000-word...

Q:

PROJ6000: Principles of Project Management Assessment 3 - Project Charter Report. Length 2,000 words (+/- 10%) Task Summary After reading the project case study, use it to develop a 2,000-word...

Q:

PMAN641 PROJECT PROCUREMENT MANAGEMENT INSTRUCTIONS There are a total of 35 questions. Each of the 25 multiple-choice questions is worth 2 points and each of the 10 essay questions is worth 5 points...

Q:

Exam 1. A traditional procurement method for selecting sellers is "lowest cost." What is the PMBOK's term for this method of seller selection? A. Minimum cost possible B. Least cost C. Cheapest...

Q:

Exam 1. A traditional procurement method for selecting sellers is "lowest cost." What is the PMBOK's term for this method of seller selection? A. Minimum cost possible B. Least cost C. Cheapest...

Q:

Test 1. A traditional procurement method for selecting sellers is "lowest cost." What is the PMBOK's term for this method of seller selection? A. Minimum cost possible B. Least cost C. Cheapest...

Q:

What experiences are being evoked in Brancusi's Bird in Space and Edward Weston's Two Shells?

Q:

Yaster Electronics manufactures and sells a televisions per month. The cost and revenue in dollars are given by C(x) = 73,358 +63 x and R(x) = 207 -0.039 x. Use differential approximations to...

Q:

The presence of venture capital for start - ups is limited outside of the United States. ( A ) True ( B ) False

Q:

XYZ Auditors (XYZ) performs assurance services under the International Code of Ethics for Professional Accountants, including International Independence Standards, (international code) and the AICPA...