The following PMP® exam sample question is taken from the Free PMP Exam Simulator:

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On a project, several risk response strategies may be used to effectively manage project risks. The strategy or mix of strategies should be determined when planning for risk responses. Which of the following statements best describes an Accept risk response strategy for negative risks or threats?

A) Adopting less complex processes
B) Purchasing insurance
C) Establishing Contingency Reserves
D) Extending the schedule

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Hint: A risk acceptance strategy is adopted when it is impossible to eliminate all threats from a project. One of the answer choices is performed in the early stages of planning

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Until next time,
Cornelius Fichtner, PMP
President, OSP International LLC - http://www.project-management-prepcast.com