Your company has bagged a number of government contracts dealing with setting up infrastructure.

Your company has bagged a number of government contracts dealing with setting up infrastructure.This includes setting up roads and bridges.This is a very big and prestigious project so your company would like to ensure everything is planned well in advance.You are the project manager of this project.Considering its importance - you and your team come up with a list of risks.One of the subject matter experts indicates that during the months of July and August the construction work of the bridge across the river would need to stop on account of past history of flooding of the river.You agree with the expert and plan the schedule accordingly.What strategy did you just apply ?
Correct Answer : A
This is an example of Risk acceptance strategy as there is nothing you can do about situations not in our control.Exploit is meant for positive situations while risk mitigation is where you have a strategy to either reduce the risk impact or probability.Neither is transfer correct as the question does not state that someone else will be responsible for handling the risk.