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Describe the arbitration process.
Risk Mitigation Plan
A strategic approach to identifying, analyzing, and responding to project risks to minimize their impact.
Risk Transfer Plan
A strategy to shift potential risks to a project to another party, usually through insurance or contracts, as a way to mitigate negative impacts.
Risk Acceptance Plan
A strategy where potential risks are acknowledged but deemed manageable or low enough to proceed without additional mitigation measures.
Risk Avoidance Plan
A strategy or approach to identify, assess, and prevent potential risks from impacting a project or business activity.
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