Moving a concert indoors to avoid the threat of bad weather is an example of ____ a risk?

Moving a concert indoors to avoid the threat of bad weather is a clear instance of avoiding a risk. This approach eliminates the potential impact of adverse weather conditions, which could disrupt the concert or pose safety hazards to attendees. By making this decision, the project manager proactively addresses the risk of weather-related issues, ensuring that the event can proceed without such complications.

Avoiding a risk involves changing the project plan or approach to eliminate the risk entirely. In contrast, options like retaining would imply accepting the risk and its consequences, while mitigating would involve implementing measures to reduce the potential impact or likelihood of the risk but not eliminating it altogether. Transferring a risk typically means shifting its impact to a third party, such as through insurance or outsourcing, rather than addressing it directly as in the case of moving the concert indoors. Therefore, the action of relocating the event is a perfect example of risk avoidance in project management.