Plan Risk Responses

Plan Risk Responses is the process of developing options and actions to enhance or exploit opportunities and to reduce or eliminate threats to project objectives (Table 11-6 and Figure 1112). It follows the Perform Qualitative Risk Analysis process and the Perform Quantitative Risk Analysis process (if used). It includes the identification and assignment of one person (the "risk response owner") to take responsibility for each agreed-to and funded risk response. Plan Risk Responses addresses the risks by their priority, inserting resources and activities into the budget, schedule, and project plan, as needed.

Planned risk responses must be appropriate to the significance of the risk, cost effective in meeting the challenge, realistic within the project context, agreed upon by all parties involved, and owned by a responsible person. They must also be timely. Selecting the best risk response from several options is often required.

The Plan Risk Responses section presents commonly used approaches to planning responses to the risks. Risks include threats and opportunities that can affect project success, and responses are discussed for each.

Table 11-6 Plan Risk Responses: Inputs, Tools & Techniques, and Outputs

Table 11-6 Plan Risk Responses: Inputs, Tools & Techniques, and Outputs

Figure 11-12 Plan Risk Responses Data Flow Diagram
Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

Get My Free Ebook


Post a comment