Free PMI Project Management Professional (PMP) Practice Question

Accepting, avoiding, mitigating, and transferring risks are the four primary risk management options. Accepting a risk means acknowledging its existence and potential impact but not taking any proactive measures to address it. Avoiding a risk involves changing the project plan to eliminate the risk entirely. Mitigating a risk refers to taking steps to reduce its likelihood or impact. Transferring a risk means shifting the responsibility for managing the risk to another party, such as through insurance or contracts. Ignoring a risk is not a viable risk management option, as it leaves the project vulnerable to potential issues without any plan to address them.