TOPIC: Plan Risk Responses (11.05)

I have a question regarding the difference between "avoidance" and "mitigation" of a risk.

In prepcast 11.05, at 38:45 minutes into the podcast, Cornelius poses the following sample question: What is reducing the impact of a risk event by reducing the possibility of its occurrence called? He states that this is "avoidance".

The PMBOK says that Mitigation is the reduction in the probability and/or impact of an adverse risk event.

Why isn't the answer to Cornelius' question "mitigation"?

Help ... this is really confusing me.

Robert,

The answer is really simple: "Because Cornelius made a mistake". The correct answer is "Mitigation".

Please refer to the PM PrepCast Errata Sheet (Episode 00.02 I think). This is a PDF document in which we are listing this as a correction.

Sorry for confusing you! (But the good news is that you have obviously and correctly understood the concept because you noticed my mistake.)

Thank you Cornelius. That makes me feel better. The Prepcast has been great. It is like having my own personal training class available anytime I need it ... much better than actually taking a class. I take the PMP exam at the end of April 2010.