“…Until now, many scholars have proposed different methods (Zhang and Guan, 2018;Zhang and Fan, 2014) on project risk response, such as the trade-off method (Chapman and Ward, 2003;Datta and Mukherjee, 2001;Flanagan and Norman, 1993;Haimes, 2015;Klein, 1993;Elkjaer and Felding, 1999;Piney, 2002;Miller and Lessard, 2001), the optimization method (Ben-David et al, 2002;Fang et al, 2013;Fan et al, 2008;Ben-David and Raz, 2001;Kayis et al, 2007;Sherali et al, 2011;Wu et al, 2018;Zhang, 2016;Zhang and Fan, 2014;Zhang and Zuo, 2016;Zhang et al, 2020;Zuo and Zhang, 2018) and the decision tree method (Dey, 2002(Dey, , 2012Kujawski and Angelis, 2010;Marmier et al, 2014;Marmier et al, 2013). These studies have made significant contributions on risk response; however, they mainly focused on the selection of proper risk response strategies under a budget constraint on the premise that the cost of implementing each response strategy is known.…”