The likelihood/frequency that a particular threat or opportunity will actually occur

The consequences of a specific threat or opportunity actually occurring

The time when the risk may actually occur, The changes that its impact will likely produce are called risk proximity

cost, time, quality, scope, benefits

Make the decision not to deal with the threat after careful consideration. Because taking this approach may be leaner than implementing risk response actions. Threats should continue to be monitored to ensure they remain within tolerances

Usually involves changing some aspect of the project, such as scope, procurement channels, supplier or activity sequence, so the threat will no longer have an impact or will not occur

Take proactive action. Reduce the probability of an incident by implementing some kind of control. Reduce the possible impact of an incident

The third party assumes responsibility for some of the financial impact of the threat. The financial impact of a threat can only be reduced, for example, through insurance or through appropriate clauses in contracts

Take action to reduce the impact of the threat if the risk actually occurs, Have a contingency plan ready for these actions

Seize opportunities to ensure they will arise and the positive impact will be realized

Take proactive action: Strengthen the probability of an event occurring; Strengthen the impact of an event after it occurs

May result from actions taken to address each risk

risk owner

risk executor

Is the response action implemented?

Whether the response actions achieved the expected results

Review management information (relative priority of risks, progress data, Project plan, change requests and corrective actions)

Track risk developments

Track the effectiveness of risk treatments

Take corrective action when response actions do not have the desired effect