1

Reduce Probability

• Propose feasible means to reduce the probability of the adverse event.
• Assess the cost of development and ownership of each proposal against the risk exposure. Estimate the probability and potential impact.
• Decide if there is a cost-effective method or combination of means available to reduce the probability.

2

Reduce Impact

• If the risk exposure is still too high to accept, propose feasible approaches to reduce the impact of the adverse event.
• Assess the cost of development and cost of ownership of each proposal against the remaining risk exposure.
• Decide if there is a cost-effective method or combination of means available to reduce the probability.

3

Make Contingency Plans

• If the remaining risk exposure is still too high to accept, examine, all assumptions and quality of service requirements, especially those that involve deployment environment, availability, and accessibility.
• If no changes can be made to the original context, develop action plans for users and support staff to handle adverse events in the best and most cost effective way.

4

Apply Decisions

• Implement the selected approach to reduce the probability of occurrence and impact.
• Close the risk work item. 

The risks that pose the greatest threat to the success of the project have been mitigated.