- Strategies for managing negative risk or threats are:
- Avoidance – involves changing the project management plan
- Transfer -Transfer the risk effects “to a third party”
- Mitigation – Implies a reduction of probability and/or impact of an adverse risk event to an “acceptable” threshold
- Acceptance – Do nothing
- Contingent response strategy tries to combine risk responses and conditions under which the occurred risk shall be responded
- Risk Triggers – When will the risk become an issue (date)? i.e. when will the schedule, scope or cost be impacted?
(comp. PMBOK3, pp. 261ff)