Question: Which risk management technique involves reducing the probability or impact of a negative event through proactive measures? A ) Risk avoidance B ) Risk transfer

Which risk management technique involves reducing the probability or impact of a negative event through proactive measures?
A) Risk avoidance
B) Risk transfer
C) Risk mitigation
D) Risk acceptance

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:

OPERATIONS MANAGEMENT ASSIGNMENT 6 1 Human resources, project management and operations management are all equally vital to a business's success. Each of these focuses on different areas of the...

Q:

Which risk management strategy involves reducing the likelihood or impact of a risk? A . Risk Avoidance B . Risk Transfer C . Risk Mitigation D . Risk Acceptance

Q:

Which risk management strategy involves transferring the impact of a risk to a third party? A . Risk Mitigation B . Risk Transfer C . Risk Acceptance D . Risk Avoidance

Q:

CO6 - Create a comprehensive project plan that includes monitoring and controlling process groups, sustainability in project management, ethical considerations, and technology application. Project...

Q:

Enterprise Risk Management ( ERM ) involves identifying and addressing business opportunities and risks to create value. ERM utilizes four main risk response strategies: Avoidance: This strategy...

Q:

pLEASE po pa help! Reflection po about dto sa mga Framework for Project Management 4. Framework for Project Management Many different professions contribute to the theory and practice of project...

Q:

PMBOK, which is abbreviated as Project Management Body of Knowledge, is a common knowledge body/organization that deals with Project Management. In PMBOK, Risk Management is an essential topic...

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:

Read the following article and explain which of the five mistakes is, in your view, the most difficult, why and what you might do so avoid that mistake Not everyone is a certified Project Management...

Q:

Read the following article and explain which of the five mistakes is, in your view, the most difficult, why and what you might do so avoid that mistake Not everyone is a certified Project Management...

Q:

4. Draw the mechanism for the following reaction and name the product: Na NH3 (1)

Q:

Yummy Yogurt sells yogurt cones in a variety of natural flavors. Data for a recent month follow: REQUIRED A. Categorize each cost as fixed or variable. B. Create a cost function. C. What is the...

Q:

When using the indirect method to prepare a statement of cash flows, which one of the following should be subtracted from net income when determining net cash flows from operating activities? An...

Q:

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...