A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?
I would like to correct my answer. the answer should be A Transference for the following reason :
When the project manager hires a third party to handle the hardware work, it doesn’t transfer the overall project risk. Instead, it transfers the hardware-related risks (such as technical, operational, or compliance risks specific to hardware) to the third-party vendor.
Considering the first sentence in the question mentions "A part of a project deals with the hardware work." then the scope of transfered risk is hardware-related work.
Hiring a contractor does not transfer the risk to the contractor. The contractor is a project human resource and as an SME may be better able to complete the associated tasks. It may transfer the "accountability" in a RACI, but the PM is still going to be responsible. Transferring a risk generally refers to insurance.
i believe you are not transfering the risk but mitigating it by outsourcing to a provider but you still own the risk as HW is an asset of your project required to meet your business goals
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