Eight Risk responses Flashcards
1
Q
Escalate
A
the risk (or opportunity) is outside of the project scope and is escalated to management.
2
Q
Avoidance
A
Avoid the risk
3
Q
Mitigation
A
Reduce the probability or impact of the risk event
4
Q
Acceptance
A
The risk may be small so the risk may be accepted
5
Q
Transference
A
Risk ownership is transferred to third party, usually for a fee.
6
Q
Enhance
A
A positive risk strategy to increase the probability/impact of the opportunity for the project
7
Q
Exploit
A
A positive risk that a project wants to take advantage of.
8
Q
Share
A
A positive risk that can be shared with the organization or other projects.
