Reference no: EM131522973

Please be very detail with examples and writing. Please use creditable sources and cite your sources. Will give a nice tip if done well. Can be a 2 pages long if needed.

Discuss the four basic risk response or risk handling strategies: avoidance, transference, mitigation, and acceptance. Describe when each strategy applies. Discuss and describe the factors that a project manager would consider when deciding enough is enough. Discuss who should be responsible for defining the exact risk response that should be considered, who should be responsible for approving each response, and who should be responsible for tracking, monitoring, and reporting.