Hello Harish Gudla
Various risk handling options can be applied in the risk mitigation process. The first one is assuming or avoiding the risk. This involves acknowledgment of the existence of the risk and then making a deliberate decision of accepting it without engaging in any effort to curb the threat. The other option is avoiding the risk, which involves the adjustment of the program requirements or constraints to reduce or eliminate the risk (Turban, Bolloju, and Liang, 2011). The other option is control; it involves taking action to minimize or reduce the likelihood as well as the occurrence of a risk. The alternatives are transfer and monitoring.
Reference
Turban, E., Bolloju, N., & Liang, T. P. (2011). Enterprise social networking: Opportunities, adoption, and risk mitigation. Journal of Organizational Computing and Electronic Commerce, 21(3), 202-220.