With ________, an organization can reduce the impact of a risk event by reducing the probability of its occurrence. Organizations are making heavy use of prototyping and newer agile product development methodologies that include short development phases with heavy customer involvement and continuous testing as a mitigation strategy to lessen the risks associated with systems development projects.
A) risk avoidance
B) risk acceptance
C) risk transference
D) risk mitigation

Question

Quizplus · Accepted Answer

Risk mitigation involves taking actions to reduce the impact or likelihood of a risk event. This can include using strategies such as prototyping and agile product development to lessen the risks associated with systems development projects. Risk avoidance involves avoiding the activity that poses the risk altogether, while risk acceptance involves accepting the risk and its potential consequences. Risk transference involves shifting the risk to another party or entity, such as through insurance or outsourcing.

With ________, an Organization Can Reduce the Impact of a Risk