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Joel on Risk Management Model- Frequency over Severity - Reduce, Avoid, Accept, Transfer, money $- Technology-Related Risk Analysis for the University of Washington, Seattle, Washington, USA

Risk Management Model

Transfer risk is one of the strategies for handling negative risks or threats. One example is insurance. In purchasing the insurance, the risk is transferred to the insurer (or other third party). Other common way to transfer risk are warranties, guarantees, or clauses in contractual relationships.

The other techniques or strategies for handling negative risks according to PMI are avoid, mitigate, and accept. These strategies are described in the 5th edition of the PMBOK in section 11.5.2.1.

Related: SWOT, SWOT analysis, plan risk responses

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