On managing the risks, Sun Tzu says…
The highest form of generalship is to thwart the enemy’s plans; the next best is to prevent the junction of the enemy’s forces; the next in order is to attack the enemy’s army in the field, and the worst policy of all is to besiege walled cities.
“Develop options and actions to reduce threats to the project objectives and enhance opportunities. As part of planning risk responses, a project manager must identify strategies for positive risks or opportunities as well as strategies for negative risks or threats. It is best is to nullify the risks either by mitigating them or by converting them into opportunities, though there are other options like using the contingencies, risk transfer, however, the worst options are not to face the risk or trying to mitigate a risk that can neither be mitigated nor be managed using contingencies.”
Minimal PM - Weekly Project Management tips