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ages with this method as well. Qualitative Risk Analysis is inexact, the variables used (e.g. low, medium and high) must be understood by all parties involved (Snyder, Rainer Jr., Carr 1991).

Risks Reduction

Once risks have been identified and evaluated they have to be responded to in some way. Wideman (1992) lists seven basic responses on identified risks:

Recognised but no action taken (absorbed as a matter of policy)

Avoided (by taking appropriate steps)

Reduced (by an alternative approach)

Shared (with others, e.g., by joint venture)

Transferred (to others through contract or insurance)

Retained and absorbed (by prudent allowances)

Handled by a combination of the above

Dorfman (1997) says that all techniques to manage the risk fall into one or more of these four major categories (remembered as the 4 T's):

Tolerate (aka Retention)

Treat (aka Mitigation)

Terminate (aka Elimination)

Transfer (aka Buying Insurance)

Bliss (2005) listed these five types of similar risk responses as Dorfman and Wideman.

Risk avoidance: Also known as risk removal or risk prevention, risk avoidance involves altering the original plans for the project so that particularly risky elements are removed. It could include deciding not to perform an activity that carries a high risk. Adopting such avoidance techniques may seem an obvious way to deal with all risks. However, often the areas of the project that involve high risks are also the areas of the project that potentially contain the highest worth or the best value for money. Avoiding such risks may also result in removing potentially the 'best bits' of a resource, and an alternative strategy that retains these risks may be more appropriate [13].

Risk reduction: Risk reduction or risk mitigation involves the employment of methods that reduce the probability of a risk occurring, or reducing the severity of the impact of a risk on the outcome of the project. The loss of highly skilled staff is a considerable risk in any project and not one that can be totally avoided. Suitable risk mitigation could involve the enforcement of a notice period, comprehensive documentation allowing for replacement staff to continue with the job at hand and adequate management oversight and the use of staff development programmes to encourage staff to stay [20].

Risk transfer: Risk transfer moves the ownership of the risk to a third party normally by contract. This also moves the impact of the risk away from the project itself to this third party [20].

Risk deferral: The impact a risk can have on a project is not constant throughout the life of a project. Risk deferral entails deferring aspects of the project to a date when a risk is less likely to happen. For example managing the expectations users have about the content and delivery of a resource can be time-consuming, one way to reduce this risk is by not making a web resource available until user testing is complete [20].

Risk retention: Whilst a certain number of the risks to the project orig本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。