Identifying Potential Risk Events

These are events that may occur during the course of the project, such as a natural disaster or a vital member of the team resigning.

Developing a risk management plan begins with a risk assessment to determine what risks exist, the potential sources of risks, their probability of occurring, and the impact on the project. Risk assessment is used to develop the risk avoidance plan, which determines the actions that will be taken to avoid risks, and the risk contingency plan, which determines the alternative actions that will be taken if the risk impacts occur. Risk assessment also defines an owner for each risk.

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