Typically Avoid, Transfer, Mitigate and Accept strategies are used from a high severity risk to low severity risk depending on the scope of the risk. Risk avoidance involves changing the project management plan to eliminate the threat entirely and may involve changing the objective that is in jeopardy. Risk transfer involves shifting some or all of the negative impact of a threat, along with ownership of the response to a third party. Risk mitigation implies a reduction in the probability and/or impact of an adverse risk event to be within acceptable threashold. Risk acceptance strategy implies that the project team has decided not to change the project management plan to deal with the risk or is unable to identify any other suitable response strategy.