According to the PMBOKGuide, specifically within the Plan Risk Responses process, there are distinct strategies for dealing with negative risks (threats) versus positive risks (opportunities).
* Negative Risk Strategies (Threats):
* Avoid: Changing the project management plan to eliminate the threat entirely (e.g., extending the schedule, changing the strategy, or reducing scope).
* Mitigate: Taking action to reduce the probability of occurrence or the impact of a risk (e.g., using less complex processes, performing more tests, or choosing a more stable supplier).
* Transfer: Shifting the impact of a threat to a third party, together with ownership of the response (e.g., insurance, performance bonds, or warranties). This usually involves paying a risk premium.
* Accept: Acknowledging the risk but not taking any proactive action. Passive acceptance requires no action except documenting the strategy, while active acceptance usually involves establishing a contingency reserve.
Analysis of Other Options:
* A. Share, Accept, Transfer, or Mitigate: " Share " is a strategy for positive risks (opportunities), not threats.
* B. Exploit, Enhance, Share, or Accept: Exploit, Enhance, and Share are all strategies specifically for positive risks.
* C. Mitigate, Share, Avoid, or Accept: Again, " Share " is an opportunity strategy, making this combination incorrect for a list of purely negative risk responses.