Software Upgrade Project Impact on Critical Business System

C.

The strategy that has been applied in this situation is "Avoid risk." Avoiding risk means taking action to eliminate the risk or to withdraw from the activity that creates the risk. In this case, the project has been postponed to avoid the potential impact on the critical business system.

Mitigating risk means taking action to reduce the likelihood or impact of a risk. Accepting risk means acknowledging that the risk exists and choosing not to take any action to address it. Exploiting risk means taking advantage of the opportunities presented by the risk.

In the given scenario, the organization has decided to avoid the risk by postponing the software upgrade project to ensure that the critical business system is not impacted. This decision could result in some negative consequences, such as delays in the software upgrade or increased costs, but it is a valid risk management strategy in situations where the potential impact on critical systems or operations is significant.