9 Plan risk management

Tony Allan

Planning how risk is to be managed takes time, but it can save money.

Inputs or information that is needed to plan how risks is to be manged is found in the; project management plan; the project charter and; the stakeholder register. The enterprise’s environment and organisational processes also need to be considered. The enterprise environment includes but is not limited to the risk attitude of the organisation. The organisational processes include things such as; how risks are categorised; definition and terms; templates and formats that direct how risks are documented and; roles, responsibilities and decision-making authority.

A Risk Breakdown Structure enables risk categories to be more easily remembered. For example:

The process of developing a risk management plan involves using tools and techniques to:

  1. Identify risks
  2. Perform qualitative analysis
  3. Perform Quantitative analysis
  4. Plan risk responses

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