What three choices are appropriate responses for managing risk?
Understand the Problem
The question is asking for three specific strategies or choices that can be effectively utilized for managing risk within a certain context.
Answer
Avoid, Transfer, Mitigate
The final answer is Avoid, Transfer, Mitigate
Answer for screen readers
The final answer is Avoid, Transfer, Mitigate
More Information
In risk management, 'Avoid' means eliminating the threat, 'Transfer' shifts the impact to a third party, and 'Mitigate' involves reducing the probability or impact of the risk.
Tips
Common mistakes include confusing similar terms like 'mitigate' and 'reduce', or neglecting to consider 'transfer' as a viable option.
Sources
- Risk Responses - uwaterloo.ca
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