Risk Response Strategies

Notify management that there could be a cost increase if a risk occurs because no action is being taken to prevent the risk.

Accept

Remove a troublesome resource from the project.

Avoid

Remove a work package or activity from the project.

Avoid

Begin negotiation for the equipment earlier than planned so as to secure a lower price.

Enhance the impact

Assign a team member to visit the seller's manufacturing facilities frequently to learn about a problem with delivery as early as possible

Mitigate the impact

Move a work package to a date when a more experienced resource is available to be assigned to the project.

Exploit

Train the team on conflict resolution strategies.

Mitigate the impact

Prototype a risky piece of equipment

Mitigate the probability

Provide a team member who has limited experience with additional training.

Mitigate the probability

Outsource a work package so as to gain an opportunity.

Share

Ask the client to handle some of the work.

Transfer

Outsource difficult work to a more experienced company.

Transfer