All of the following statements about project risks are true EXCEPT: Avoiding a risk means changing the project plan in advance to eliminate the chance of that specific risk occurring. Mitigating a...

All of the following statements about project risks are true EXCEPT:

• Avoiding a risk means changing the project plan in advance to eliminate the chance of that specific risk occurring.


• Mitigating a risk refers to taking action to reduce the likelihood that a risk will happen and/or reduce the impact the risk has on the project.


• Contingency planning is developing a response once the risk occurs.


• Retaining a risk means no preventive action is taken.

Choose one option and provide explanation.