What is the action called when the plan is changed to eliminate a risk or condition?

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Prepare for the UCF MAN4583 Project Management Final Exam. Study with flashcards and multiple choice questions, each featuring hints and explanations. Ace your exam!

The action of changing a plan to eliminate a risk or condition is referred to as "avoiding." In project management, avoidance strategies are employed when a potential risk can be completely eliminated or altered so that it is no longer a threat to the project. This could involve altering project plans or objectives in such a way that the risk does not manifest at all.

For example, if a project is at risk of exceeding budget due to a potential rise in material costs, a project manager might choose to source materials from a supplier that offers a fixed rate, effectively avoiding that particular risk.

This proactive approach is essential when risks could lead to significant negative consequences, and it shows a commitment to maintaining the overall success and health of the project. It underscores the importance of strategic planning in project management, as many risks can be anticipated and addressed before they manifest.