It can be any measure that can eliminate or reduce project risk influence. We will refer to the Risk Reducing Strategy Table. This table contains a series of measures that can ensure the project success and directly reduce project risks. Generally, it is unnecessary to prepare a response plan for risks with low probability and low influence.
Two recommended risk-reducing strategies:
1. The precaution strategy: A method to minimize risk influence by transferring, reducing or avoiding risks.
2. The emergency strategy: The emergency plan is implemented to minimize risk influence when risk occurs.
All risks should be assigned to concerned risk owners, who will be responsible for risk response, so that the risk response plan can be implemented smoothly
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