Identify and briefly describe the four ways to respond to identified risks.
Fill in the blank(s) with the appropriate word(s).
Answer will vary
(1) Mitigate the risk-involves reducing the likelihood that the event will occur and/or reducing the impact that the adverse event would have on the project; (2) Avoid the risk-changing the project plan to eliminate the risk; (3) Transfer the risk-passing a risk to another party; (4) Retain the risk-making a conscious decision to accept the risk of an event occurring.
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