Description
350 - 600 words
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, and transfer. 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.
- Discuss the type of risk response strategy that is appropriate for each risk.
- Why is this strategy appropriate for this risk?
- How will you work with the project team to determine the risk response strategies for each risk in your project?
Write 2 more paragraphs that are an introduction and conclusion to this topic. Be sure to include your references, and format your submission in APA format.
Explanation & Answer
Attached.
Running head: MITIGATING PROJECT RISKS
Mitigating Project Risks
Student’s name
Institution
Date
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MITIGATING PROJECT RISKS
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Prior to undertaking every project, it's important to identify any positive or negative
project that is likely to interfere with the achievement of the objectives set out. By identifying
these risks, the team undertaking the project will be in a position to mitigate them to ensure they
do not interfere with the completion of the project. In building the post-modern stadium, the
project team was able to identify some risks that would likely impact the project which should be
addressed. These projects...
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