What is Risk Response Strategies?

For threats there are five responses: avoid (eliminate the risk by changing the plan), mitigate (reduce probability or impact), transfer (shift the impact to a third party — insurance, fixed-price contract), accept (do nothing beyond monitoring, perhaps with contingency), and escalate (it's outside the project's authority — hand it up).

Opportunities mirror them: exploit, enhance, share, accept, escalate. Exam scenarios hinge on precise reading: buying insurance is transfer, not mitigation — the risk still happens, someone else pays. Choosing a proven technology instead of the risky one is avoid.