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risk transfer

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Type
term
Definition

A risk mitigation option that reassigns or delegates the responsibility for tasks to mitigate a risk to another entity. This approach may involve reallocating risk management tasks from one program to another, between government organizations, or across sides of an interface managed by the same organization. The same risk may be carried (shared) by multiple government organizations. Programs should recognize transference of risk does not eliminate all responsibility and risk must be monitored for potential consequences. Development of government-furnished equipment for application to multiple programs typifies this type of risk.