PMI-RMP Certification Training - Transfer and Mitigate

The video tutorial covers two main risk response strategies: transference and mitigation. Risk transference involves shifting the impact and ownership of a risk to a third party, such as through insurance or subcontracting. It does not eliminate the risk but reduces the impact on the original party. Mitigation, on the other hand, aims to reduce the probability or impact of a risk through proactive measures. It is one of several strategies and should not be confused with risk response as a whole. Examples of mitigation include adopting less complex processes and designing redundancy into systems.

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