Risks are handled and mitigated, where appropriate, to reduce adverse impacts on achieving objectives.
The steps in handling risks include developing risk handling options, monitoring risks, and performing risk handling activities when defined thresholds are exceeded. Risk mitigation plans are developed and implemented for selected risks to proactively reduce the potential impact of risk occurrence. Risk mitigation planning can also include contingency plans to deal with the impact of selected risks that can occur despite attempts to mitigate them. Risk parameters used to trigger risk handling activities are defined by the risk management strategy.