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Risk Response Strategy

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Sud
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Risk Response Strategy

Postby Sud Sat Aug 16, 2014 12:54 pm

You are the project manager of a project to launch a new model of a car. The car has to hit market before the holiday season. However, you received information that the workers are supposed to go on strike during the same time. You try to come up with a strategy to get the new model of the car launched in spite of the workers strike. This is an example of?

Risk Mitigation
Risk Transfer
Risk Acceptance
Risk Avoidance

???
signor_rk
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Re: Risk Response Strategy

Postby signor_rk Sat Aug 16, 2014 3:25 pm

In my opinion , Option # C , i.e., Risk Acceptance .
Since the PM is not taking any proactive action and just waiting the Risk .i.e., STRIKE to happen. In the meantime , he might be documenting the Strategy to tackle the Risk , if it occurs on the holiday season based on the prior information and thus planning some Contingency Reserve too.
Thanks.
Regards ,

Ranjit
namita
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Re: Risk Response Strategy

Postby namita Mon Aug 18, 2014 1:30 pm

Have you gone through below blogs?

http://www.izenbridge.com/blog/how-to-h ... trategies/
http://www.izenbridge.com/blog/learn-ho ... ortunities

This is acceptance as question is not talking about any action till risk occurs..As per PMBOK5

Risk acceptance is a risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs

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