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ProPM Logo Plan Risk Responses    
   
   
   
   
   
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The Plan Risk Responses process consists of developing options and actions;

  • To enhance opportunities.
  • To reduce threats to project objectives.

Risks include threats & opportunities that can affect project success;

  • Responses are discussed for each;

The key benefit of the Plan Risk Response process is that it;

  • Addresses risks by their priority;
  • Inserting resources and activities, as needed, into;
    • Budget.
    • Schedule.
    • Project management plan.

Planning risk responses is performed after quantitative risk analysis process (if used.)

  • Each risk requires an understanding of the mechanism;
    • By which the risk will be addressed.
  • This is the mechanism used to analyze;
    • If the risk response plan is having the desired effect.
  • This includes the ID and assignment of one person (response owner;)
    • To take responsibility for each agreed-to & funded risk response.

Selecting the optimum risk response from several options is often required;
Risk responses should be;

  • Appropriate for the significance of the risk.
  • Cost effective in meeting the challenge.
  • Realistic in project context.
  • Agreed upon by all parties involved.
  • Owned by a responsible person.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
           
   
   
   
   
   
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Risk Management          
Plan execution          
Plan Risk Responses          
           
           
Process Inputs          
Risk Mgmt Plan          
Risk register          
           
           
Tools and Techniques          
Strat. For Neg. Risks or Threats          
Strat. For Pos. Risks or Opps.          
Contingent response strategies          
expert judgment          
           
           
Process Outputs          
Proj. Mgmt. Plan Updates          
Proj. doc. updates          
           
           
Process Benefits          
Planning risk responses addresses risk in order of priority. Planning risk reponses assigns responsibility & allocates resources and activities, as needed, into project scope, schedule and budget.           
         
         
         
         
         
         
         
         
         
   
   
   
   
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