Risk response

Question 1

Escalation

Answer 1

The risk or opportunity is outside of the project scope and is escalated to management.

Question 2

Avoidance

Answer 2

Avoid the risk

Question 3

Mitigation

Answer 3

Reduce the probability or impact of the risk event.

Question 4

Acceptance

Answer 4

The risk may be small so the risk may be accepted.

Question 5

Transference

Answer 5

Risk ownership is transferred to third party, usually for a fee.

Question 6

Enhance

Answer 6

A positive risk strategy to increase the probability / impact of the opportunity for the project.

Question 7

Exploit

Answer 7

A positive risk that a projet wants to take advantage of.

Question 8

Share

Answer 8

A positive risk that can be shared with the organization or other project.