TOPIC: Accept vs Mitigate

I feel like I understand these two quite well. I have been taking as many test exams as possible as I am taking my PMP exam for a second time in November.

I stumbled across these two questions that almost seem identical:

M Fahad Usmani - 400 Test Questions
Question: 134 You make a contingency plan for a negative risk, and assign it to a risk owner. What kind of risk response strategy is this?
(a) Transfer
(b) Avoid
(c) Mitigation
(d) Accept

Oliver Lehman - 175 Questions
77. You identified a technical risk in your project and assigned a contingency for that. Planning contingency reserves is part of which risk response strategy?77
o Active risk mitigation
o Passive risk avoidance
o Passive risk acceptance
o Active risk acceptance

Which is the correct answer?

Hi Michael,

You are correct in saying that these questions are almost identical. It is an example of risk acceptance in both cases.

Q134: Accept

Q77: Active risk acceptance

If you can’t avoid the risk, transfer it and there’s nothing you can do to reduce its impact, then accepting it is your only choice. Here the risk has been identified, but the only action you've taken as a PM is to assign a contingency for it, unlike creating a mitigation plan (which is different from a contingency plan) This means that there is nothing that can be done to reduce it's impact or avoid it altogether, and thus you've accepted it. It is active because you've set aside a contingency reserve; or else it would have been passive risk acceptance.

Hope this helps.

Thanks for your quick response.

The first one is Mitigation the second was Acceptance.

This is why I believe I have such a hard time studying. I will read something somewhere, and read something completely different elsewhere. I often times second guess myself because of reasons like this.

Hi,
but in the first case, it's seems like (making) executing the contingency plan which is assigned to owner, in second case you are assigning contingency reserve, you will apply this once risk is occurred.
John George

Hi Michael

During my preparation I found some online free resources , it's given me more confusion, then I stopped using such resources. Lehman 175 questions are really good. You can find Oliver Lehman application in Android, can download and practice test. There ar resources which are low quality also.
Also 1000 questions by Christopher Scorder is good one. Higg standared queations. I could purchase it for low price.

Thanks
John George