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The gold standard for handling risks is to avoid the activities that cause the risk. The...

The gold standard for handling risks is to avoid the activities that cause the risk. The mitigation costs are zero in that case, and the risk likelihood is zero as well. If you don’t do the thing, you don’t create the risks associated with it!

People, if that such a hotshot idea – why don’t we apply it across our entire Risk Register

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Answer #1

The likelihood of gold risks is not zero rather medium and hence the relevant Gold standards are to be established. That is why the same needs to be catered to in the risk register but the same shall not impact the whole of the Project because not all risks are monetary-linked. Some linked with duration of the Project, some with quality while some other with legal formalities as well. As a result, applying the same across the entire Risk Register shall not be feasible.

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