Risk Response – risk strategies for threats and/or opportunities

	Avoid Eliminate the threat by eliminating the cause. Transfer Contract the risk out. Transfer it to a third party with incentives, penalties, warranties, bonding, .. , purchase insurance. Mitigate Effect the probability and/or the impact of the risk.	Negative Risk or Threats
	Exploit Eliminate uncertainty of upside risk to ensure opportunity happens Share Third party helps to capture the opportunity Enhance Opposite of Mitigation. Proactively target and reinforce the trigger to achieve a positive opportunity.	Positive Risk or Opportunities
	Acceptance (Assumption of the risk) Know about the risk, but decide to accept the consequences if failure occurs. Knowledge and Research Perform tests & simulations. Consult experts. Start risk tasks as early as possible within available slack.	Both