Question on Risk Response Strategy
Your team has identified a risk with some of the chemicals you are using on your highway construction project. It is really difficult to mix them just right and, based on past projects, you’ve figured out that there’s a high probability that about 14% of the chemical supply will be lost in mixing problems. You decide to buy an extra 15% of the chemicals up front so that you will be prepared for those losses and your project won’t be delayed. Which response strategy are you using?
They mentioned answer as C with reason - By buying the extra chemical stock, you are mitigating the risk.
But my understanding is "Mitigating" is an efforts to mitigate a risk. Here team has accepted risk and prepared contigency plan for it. Buying extra chemical stock is not mitigating actual risk of loosing chemical supply.
Please correct me if I am wrong.