Risk Transfer Notes: Definitions & Explanations PDF | Download eBooks
Study Risk Transfer lecture notes PDF with project management definitions and explanation to study “What is Risk Transfer?”. Study risk transfer explanation with project management terms to review project management course for online MBA programs.
Risk Transfer Definition:
Risk transfer involves shifting ownership of a threat to a third party to manage the risk and to bear the impact if the threat occurs.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Risk Transfer Notes:
SWOT analysis involves identifying strengths, weaknesses, opportunities and threats. The threats section of SWOT analysis identifies internal and external threats that adversely affect the organization and the project. These effects can spread to all levels of the organization. Different strategies are used to deal with the threats. One of them is called risk transfer. Risk transfer strategy involves transferring the ownership of the risks to a third party. The third party is responsible to deal with the risk and also endures the effects of the risk. The third party is usually paid for risk transfer. The examples include insurance, warranties, guaranty etc.
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