Which of the following methods treats risk by expending resources to reduce likelihood or consequence?

The correct choice is to control risk, which involves allocating resources to either reduce the likelihood of the risk occurring or to mitigate its potential consequences if it does occur. This proactive approach is integral to systems engineering as it allows organizations to maintain a balance between risk and opportunity while ensuring that potential negative impacts on project objectives are minimized.

Controlling risk can manifest in various forms, such as implementing safety measures, creating contingency plans, or investing in technology that can help monitor or manage risks effectively. By doing so, organizations increase the likelihood of project success and resilience against unforeseen challenges.

Other strategies like avoiding risk focus on eliminating the risk entirely, accepting risk denotes acknowledgment of the risk without active measures to manage it, and transferring risk refers to shifting the burden to another party, often through insurance or contracts. While these methods play significant roles in a comprehensive risk management strategy, they do not involve the direct use of resources in the same manner as controlling risk does.