To manage procurement risk, Procurement Manager John has a policy of only using

Question

To manage procurement risk, Procurement Manager John has a policy of only using experienced, dependable, and proven sellers instead of selecting sellers through open competition. What risk management technique is John using here? A. Risk Acceptance. B. Risk Mitigation. C. Risk Transfer D. Risk Avoidance. To manage procurement risk, Procurement Manager John has a policy of only using experienced, dependable, and proven sellers instead of selecting sellers through open competition. What risk management technique is John using here? A. Risk Acceptance. B. Risk Mitigation. C. Risk Transfer D. Risk Avoidance.

Explanation / Answer

B. Risk Mitigation.

Risk Mitigation is an overall approach to reduce the risk impact severity and/or probability of occurrence. It could affect a number of risks and include, for example, increasing staffing or reducing scope. (source: https://www.mitre.org)

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