In my opinion, if the probability of risk is analyzed to be high then an analysis needs to be done about the costs involved in getting those risks eliminated. If the risks can be avoided within a small budget then the project can go ahead after the elimination of the possible risks. However, if the risks involved are severe and cannot be avoided at all then considering to give in for sometime until a way is found out would be great instead of wasting the resources when the end result would not be successful enough.