Which statement describes a mitigated ART PI Risk?

A mitigated ART (Agile Release Train) PI (Program Increment) risk involves having a specific strategy in place to address the risk if it arises or changes. This means that while the risk has not been eliminated completely, there is an awareness and preparedness to handle it. The implication is that there is a proactive approach to managing risks, ensuring that if the risk materializes, the team knows how to adjust their plans accordingly to reduce its impact or exploit potential opportunities.

In this context, having a strategy to adjust as needed reflects a key principle in Agile environments: flexibility and responsiveness to change. Teams are encouraged to identify risks early and develop plans to mitigate them, rather than leaving them unaddressed.

The other options present different scenarios. Eliminating the risk entirely is often not feasible; risks can usually be minimized but not fully eradicated. Documenting the risk for future reference is important, but in itself doesn't indicate an active approach to management or adjustment. Ignoring a risk because it seems minor is contrary to the best practices in risk management within an Agile framework, where even small risks can lead to significant issues if not monitored.