Describe how one can manage project risk

What will be an ideal response?

You can manage risk on a project by changing the project plan to avoid risky factors, assigning project team members to carefully manage the risky aspects, and setting up monitoring methods to determine whether or not potential risk is, in fact, materializing. The amount of technical risk associated with a given project is contingent on four primary factors: project size, project structure, the development group's experience with the application and technology area, and the user group's experience with systems development projects and the application area.