Risk response Flashcards

1
Q

Escalation

A

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

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2
Q

Avoidance

A

Avoid the risk

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3
Q

Mitigation

A

Reduce the probability or impact of the risk event.

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4
Q

Acceptance

A

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

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5
Q

Transference

A

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

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6
Q

Enhance

A

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

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7
Q

Exploit

A

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

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8
Q

Share

A

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

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