8 Developing Risk Response Strategies

Developing a risk response strategy is an important step in protecting your project and its deliverables. As discussed thus far in this book, we should be able to respond to all key risks we identify. But, not all these risks, however, will require some action. The risks that fall outside of the project’s risk tolerance levels are those which pose a significant potential impact on the ability of the project to achieve set objectives and therefore require a mitigation plan.