Risk Response question - Accept Vs Mitigate

[bhavini.barot]

Your company has bagged a number of government contracts dealing with setting up infrastructure.This includes setting up roads and bridges.This is a very big and prestigious project so your company would like to ensure everything is planned well in advance.You are the project manager of this project.Considering its importance - you and your team come up with a list of risks.One of the subject matter experts indicates that during the months of July and August the construction work of the bridge across the river would need to stop on account of past history of flooding of the river.You agree with the expert and plan the schedule accordingly.What strategy did you just apply ?
A. Accept
B. Exploit
C. Mitigate
D. Transfer

Answer is A.

For Accept - we do not do anything other than planning contingency (for Active acceptance). Is it correct? here in question it is mentioned we planned scheduled accordingly, will it not be mitigation? Please explain.

[manishpn]

Your company has bagged a number of government contracts dealing with setting up infrastructure.This includes setting up roads and bridges.This is a very big and prestigious project so your company would like to ensure everything is planned well in advance.You are the project manager of this project.Considering its importance - you and your team come up with a list of risks.One of the subject matter experts indicates that during the months of July and August the construction work of the bridge across the river would need to stop on account of past history of flooding of the river.You agree with the expert and plan the schedule accordingly.What strategy did you just apply ?
A. Accept
B. Exploit
C. Mitigate
D. Transfer

Answer is A.

For Accept - we do not do anything other than planning contingency (for Active acceptance). Is it correct? yes thats correct,
Passive acceptance involves no proactive action apart from periodic review of the opportunity to ensure that it does not change significantly
here in question it is mentioned we planned scheduled accordingly, will it not be mitigation? Please explain.

In risk mitigation, action is taken to reduce the probability of occurrence and/or impact of a threat. As per the question PM is not taking any mitigation actions, PM is only making changes in the schedule to accommodate the stop of work in July/Auguat
Usually act of nature cannot be mitigate, PM cannot control/influence intensity of rains/cyclone etc

[bhavini.barot]

Thank you Manish. This helps.