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Unformatted text preview: 4 things you can do about risk: • Avoid the risk o Do something to remove it. Use another supplier for example. ▪ Transfer the risk o Make someone else responsible. Perhaps a Vendor can be made responsible for a particularly risky part of the project. ▪ Mitigate the risk o Take actions to lessen the impact or chance of the risk occurring. If the risk relates to availability of resources, draw up an agreement and get sign-off for the resource to be available. ▪ Accept the risk o The risk might be so small the effort to do anything is not worth while Strategies for risk monitoring and control Establish systematic reviews and specifically include them in the project schedule Assess the effectiveness of actions taken Identify the status of actions to be taken...
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- Spring '11