A risk management team for a software project decided to outsource the development of a...

Outsourcing the development of a system component due to a lack of internal resources is a risk response strategy known as ‘transfer.’ This approach shifts the risk to a third party who will now be responsible for managing that portion of the project. It is commonly used when an organization does not have the expertise or capacity to handle specific risks internally.

References = The answer is based on standard project management practices and the typical use of risk response strategies in the field. For detailed information, please refer to the CompTIA Project+ Study Guide and other official CompTIA resources.