Please enable JavaScript.
Coggle requires JavaScript to display documents.
PLANNING RISK RESPONSES (4 Basic Response Strategies for Negative Risks…
PLANNING RISK RESPONSES
4 Basic Response Strategies for Negative Risks
Risk Avoidance
eliminating a specific threat, usually by eliminating its causes.
Risk Acceptance
accepting the consequences if a risk occurs.
Risk Transference
responsibility for its management to a third party.
Risk Mitigation
reducing the probability of its occurrence.
4 Basic Response Strategies for Positive Risks
Risk exploitation
doing whatever you can to make sure the positive risk happens.
Risk sharing
allocating ownership of the risk to another party
Risk enhancement
identifying and maximizing key drivers of the positive risk.
Risk acceptance
project team does not take any actions toward a risk.
Technical Risk
Improve problem handling
Increase the frequency of project monitoring
Increase project manager authority
Emphasize team support and avoid stand-alone project structure
Schedule Risk
Increase the frequency of project monitoring
Use WBS and CPM
Select the most experienced project manager
Cost Risk
Use WBS and CPM
Increase the frequency of project monitoring
Increase project manager authority