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Risk responses should always be appropriate to the risk. For example,
An insurance policy against loss or damaging to any watches or jewellery that you wear successfully removes the risk of financial loss for repair or replacement. Whether it is an appropriate response to that risk will depend on:
There are a number of different types of Risk Response that we can take. The list below may be a useful prompt in thinking about the alternatives to consider before making recommendations to the Project Board on the appropriate response to possible threats.
Your Project or Programme Board may also ask you to assess whether any of the uncertainties around the project present opportunities, what action is needed to realise them and whether it is worth trying to do so. In this situation consider the options below when recommending the appropriate response to these opportunities.