Free PMI Project Management Professional (PMP) Practice Question

When dealing with threats in a project, the primary response strategies include: 'Avoid', which involves changing the project management plan to eliminate the threat or its impact; 'Transfer', where the risk is shifted to a third party; 'Mitigate', which seeks to lower the probability of the threat or its impact; 'Accept', indicating a willingness to deal with a threat if it occurs, possibly by establishing a contingency plan; and 'Escalate', where the risk is passed to a higher authority if it is beyond the project manager's control.