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Risk avoidance is a risk treatment that avoids, sidesteps or discontinues the actions that trigger a particular risk. The following are a few examples:1. Business StrategyA bank considers expanding its products to include financial derivatives. After completing a business plan, the bank determines that the plan is risky and decides not to pursue the strategy.
2. InvestingAn investment adviser recommends a stock to a client. The client reads the company's most recent financial report and finds it's a complex business with difficult to understand risk factors and decides against the investment.3. Health & SafetyA company shuts down a construction site in bad weather to avoid the risk that someone will get hurt.4. Information SecurityA retailer discontinues collection of personal data such as customer's ages and telephone numbers to avoid the risk that such data would be stolen in an information security incident.
Project Management
This is the complete list of articles we have written about project management.
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A guide to project risk.
A list of basic project management techniques.
A definition of workaround with examples.
A list of project branding techniques.
A definition of project stakeholder management with examples.
A definition of action plan with examples.
The primary types of cost overrun.
The definition of document control with examples.
A guide to project oversight.
A definition of design driven development with examples.
A list of common project risks.
A list of common project stakeholders.
A list of common business risks.
The difference between a risk and an issue.
The four things that can be done about risk.
The definition of secondary risk with examples.
A guide to creating a risk register with an example.
A definition of risk perception with examples.
The common types of implementation.
A reasonably complete guide to project risk management.
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