Question

Discuss and define the eight common risk responses that are used and describe how you might use two or three of them together on a project.

Answer 1

Avoid, Threat, Change project plan and or scope, Improve project communications, Decide not to perform the project, Transfer, Threat Insurance is the eighth most common risk response that is used.

Mitigate

Threat

Lower probability and/or impact of threat

Build in redundancy

Use more reliable methods

3 possible responses that could work well together would be Accept, Research, and Mitigation

Preface any problem with Mitigation - reduces the probability of a risk happening ex) Obtain a key resource beforehand (most likely an expert on the topic). Also, build redundancy, and have members trained to do work of key resources if not available.

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