Research
The risk is not yet fully understood. Its impact or likelihood of occurrence may be unclear or the context in which it may occur could seem unreasonable. Further research by members of the project team is warranted.

Accept
The risk is unavoidable and must be accepted as-is. This category of risks become extremely important to a project since they cannot be resolved but still represent a threat to completion. Anticipation therefore become the key to dealing with this category of risk.

Reduce
The risk as it stands is unacceptable. The project team must act to reduce the risk and to establish contingency plans should the risk occur. The risk will have to reviewed in future to define the threat it poses.

Eliminate
The risk is unacceptable under any circumstances and must be eliminated as a possibility. The project team must put in place processes and procedures not only to ensure the immediate threat is eliminated but that it does not re-occur in the future.