After identifying the risk impact and likelihood of it happening we then prioritise our risk management.
a) Risk Response:
What can we do about the risk?
Under response we have to ask ourselves what we want to do about these risks
We have 3 options
· Accept it by living with the consequences
· Avoid it by working around so that the risk never happens
· Mitigate it by taking action to lessen the risk
b) Risk Response Control:
How do we manage and monitor the risk? By having a risk analysis
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