Overview: Risk Response and Mitigation - Learning objectives - Risk avoidance
3 important questions on Overview: Risk Response and Mitigation - Learning objectives - Risk avoidance
You choose risk avoidance when:
1. The expose level is deemed unacceptable by management.
2. The risk cannot be transferred.
3. Mitigation that would bring the risk in line with acceptable levels is either impossible or would cost more than the benefits that the organization derives from the activities.
2. The risk cannot be transferred.
3. Mitigation that would bring the risk in line with acceptable levels is either impossible or would cost more than the benefits that the organization derives from the activities.
Name examples of risk avoidance:
Relocating a data center away from a region wit significant natural hazards.
Evacuating staff from substantial civil unrest.
Declining a project with substantial likelihood of failure.
Rejecting a partnership with unfair agreements of sharing loss.
Declining not to use proprietary technology or software, because it recently begun operations or is undergoing bankruptcy.
Evacuating staff from substantial civil unrest.
Declining a project with substantial likelihood of failure.
Rejecting a partnership with unfair agreements of sharing loss.
Declining not to use proprietary technology or software, because it recently begun operations or is undergoing bankruptcy.
What is the role of the risk practitioner related to risk avoidance?
Provide management with timely, accurate risk evaluation and solid supporting data so that informed decisions can be made.
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