Continually evaluate exposure to risk, both opportunities and threats, to maximise positive impacts and minimise negative impacts to the project and its outcomes.
Individual and overall risks can impact projects.
Risks can be positive (opportunities) or negative (threats).
Risks are addressed continually throughout the project.
An organisation’s risk attitude, appetite, and threshold influence how risk is addressed.
Risk responses should be:
- Appropriate for the significance of the risk,
- Cost effective,
- Realistic within the project context,
- Agreed to by relevant stakeholders, and
- Owned by a responsible person.
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