involves developing an action plan to reduce the likelihood of occurrence or potential impact of each risk, establishing a trigger point for when to implement the actions to address each risk, and assigning responsibility to specific individuals for implementing each response plan.

Risk response planning

Explanation:

Risk response planning can be seen as a way of initiating diverse options and reducing or elimination risk to the project,and also create an avenue to increase the opportunity impact.

Risk response planning are plans done by a project manager to detect and find a solution to a threat to a project even before it occurs.

However, Risk can be managed with this three steps. 1). Risk identification, 2). Risk analysis, 3). Developing risk response plan.

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