Certified Governance Risk and Compliance (CGRC) Practice Exam 2026 - Free CGRC Practice Questions and Study Guide

The most suitable risk response that typically utilizes procurement processes in a project is sharing. This approach involves distributing the risk among multiple parties, which often requires engaging external organizations or vendors through procurement methods. By partnering with others, an organization can allocate the responsibilities and resources necessary to manage the risk effectively.

In practice, sharing risks may take forms like joint ventures, insurance arrangements, or contractual agreements where another party takes on portions of the risk in exchange for compensation or other benefits. Engaging in procurement processes allows organizations to formalize these relationships, outline expectations, and establish reduced risk exposure through properly structured agreements.

Choices like acceptance, mitigation, and exploiting typically do not necessitate the same level of formal procurement engagement. Acceptance involves acknowledging the risk without changing the project’s course, mitigation focuses on reducing the risk's impact or likelihood, and exploiting aims to take advantage of the risk's potential benefits—all of which can often be managed internally or through existing resource allocation without requiring additional procurement actions.