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A project manager on a construction project includes a line item in the budget for insurance for the equipment and job site. This is an example of:?

A. Acceptance B. Transference C. Avoidance D. Mitigation

Risk Management Project Management
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Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2018/06/06
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Sherif Shabaan
by Sherif Shabaan , Green Riyadh.. Site Civil Engineer , Al Fahd Company

  ................ B. Transference

Zameer Bilagi
by Zameer Bilagi , Assistant Vice President , HSBC

B. Transference 

Common example of risk transference includes Insurance, Performance bonds, Warranties, Guarantees, Fixed-price contracts

Muhammad Farooq
by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.

Answer: BExplanation: One effective way to deal with a risk is to pay someone else to accept it for you. This is called transference. The most common way to do this is to buy insurance.

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