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Manual-Testing - What is Risk Mitigation and who will involve in Risk mitigation plan?




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asked mar August 2, 2014 08:55 AM  

What is Risk Mitigation and who will involve in Risk mitigation plan?


           

1 Answers



 
answered By shyam   0  

The third step in the risk management is risk mitigation or risk control. After assessing the risk in your project you must control them. In order to control the risks you can use following options.

Mitigation: In mitigation we take preventive measures to reduce the likelihood of the risk or to reduce the impact of the risk in case it occurs.

Contingency: In case if the risk becomes an outcome the we have contingency plan to reduce the impact of the risk.

Transferring to  another party: In this case we transfer the risk to third party who will accept the consequences of risk if it occurs.

Lastly, you can also have a plan to accept the risk and the consequences in case the risk occurs.

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