Explanation/Reference:
Explanation:
This risk event has the potential to save money on project costs and organization is hiring a vendor to assure that all these saving are being realized. Hence this risk event involves sharing with a third party to help assure that the opportunity take place.
Incorrect Answers:
A: This risk event is not accepted as this event has potential to save money as well as it is shared with a vendor so that all these savings are being realized.
B: The risk event is mitigated when it has negative impacts. But here it is positive consequences (i.e., saving), therefore it is not mitigated.
C: This risk event can be exploited but as here in this scenario, it is stated that organization is hiring vendor, therefore event is being shared not exploited.

Section: Volume B
Explanation:
When the project team needs training to be able to complete the project work it is a cost of conformance to quality.
The cost of conformance to quality defines the cost of training, proper resources, and the costs the project must spend in order to ascertain the expected levels of quality the customer expects from the project. It is the capital used up throughout the project to avoid failures. It consists of two types of costs:
* Prevention costs: It is measured to build a quality product. It includes costs in training, document processing, equipment, and time to do it right.
* Appraisal costs: It is measured to assess the quality. It includes testing, destructive testing loss, and inspections.
Incorrect Answers:
A: Benchmarking compares any two items, such as materials, vendors, or resources.
B: Cost-benefit analysis is the study of the benefits in relation to the costs to receive the benefits of a decision, a project, or other investment.
D: Team development describes activities the project manager uses to create a more cohesive and responsive project team.

Section: Volume D
Explanation/Reference: https://www.casact.org/education/infocus/2014/handouts/Paper_3464_handout_2190_0.pdf