Scenario: You are the project manager of a construction project for a new office building. The project is already underway, and you've identified several potential risks that could impact the project's cost and schedule.

Question:

The construction project you're managing is facing potential risks related to labor shortages and adverse weather conditions during a critical construction phase. To address these risks, you decide to hire additional labor on standby and create a contingency plan for weather$-$related delays.

Which risk mitigation strategy are you implementing by hiring additional labor on standby and creating a contingency plan for weather$-$related delays?

Question $16$ options:

Risk transfer

Risk mitigation

Risk acceptance