While working on a project, the project manager identifies a supplier risk due to the supplier's unstable financial condition. To handle this, the manager decides to work with multiple suppliers instead of relying on a single one. Which risk response is being applied?
Transfer
Mitigate
Avoid
Accept
By choosing to work with multiple suppliers, the project manager is reducing the impact or likelihood of the supplier risk. This is an example of mitigating the risk. Mitigation involves taking proactive steps to decrease the probability or impact of a risk event. Transfer is incorrect because the risk is not being shifted to a third party, such as through insurance. Avoid is incorrect because the manager is not eliminating the risk entirely by, for example, removing the dependency on suppliers altogether. Accept is incorrect because the manager is not passively acknowledging the risk without taking action.
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