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Determine the risk response and implementation strategies

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Question

Risk response strategies are the ways in which risks can be handled if they occur. For negative risks,

the appropriate strategies are: accept, mitigate, avoid, transfer and escalate. For positive risk, the strategies are: accept, enhance, exploit, and share.  

  Choose 2 of the risks you identified in Unit 2, and respond to the following questions: 

  • For each of the risks, discuss whether the risk is a positive or a negative one. Since negative risks can cause significant issues on project, it is best to concentrate on the negative risks. Also a risk is either negative or positive but not both.
  • Discuss the type of risk response and implementation strategy that is appropriate for each risk. Risk response strategy must be one of the strategies listed above and each risk for the initial assessment should have only one strategy.
  • Why is this strategy appropriate for this risk? 
  • How will you work with the project team to determine the risk response and implementation strategies for each risk in your project? 

If you accept a risk, how will that affect a project?

Reference no: EM132362416

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