To successfully prepare for risk response, the project manager, project team, and appropriate stakeholders rely on several inputs—many of which stem from qualitative and quantitative risk analyses. The risk management plan is needed during the risk response planning, but the risk register is also needed to provide the following:
• A list of prioritized risks
• A prioritized list of quantified risks
• A probabilistic analysis of the project
• The probability of the project meeting the cost and schedule goals
• The list of potential responses decided upon when risks were first identified
• Any risk owners who have been identified
• A list of risks with common causal factors
• Trends from qualitative and quantitative analyses
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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.