PMI-RMP Certification Training - Accept

The video tutorial discusses risk response strategies, focusing on risk acceptance. It explains that risk acceptance is a deliberate choice to acknowledge a threat without proactive action, suitable for low-priority threats or when other responses are not cost-effective. The tutorial distinguishes between active and passive acceptance, emphasizing the importance of intentional planning and periodic review.

What does risk acceptance involve?

• Acknowledging a risk without taking proactive action

• Transferring the risk to another party

• Mitigating the risk through strategic planning

• Taking proactive measures to eliminate a risk

When might risk acceptance be considered appropriate?

• When the risk is high priority

• When the risk is low priority or not cost-effective to address

• When the risk can be easily transferred

• When the risk is above the risk threshold

What is a contingency plan in the context of risk management?

• A plan to ignore the risk entirely

• A plan to address a risk if it exceeds the risk threshold

• A plan to transfer the risk to another party

• A plan to mitigate the risk through strategic actions

What is the most common form of active risk acceptance?

• Ignoring the risk completely

• Establishing a continuity reserve

• Transferring the risk to another party

• Mitigating the risk through strategic planning

What does passive risk acceptance involve?

• No proactive action apart from periodic reviews

• Setting aside resources to handle the risk

• Transferring the risk to another party

• Taking immediate action to eliminate the risk