Risk Management

Building the Risk Management Plan

The risk management plan is the safety net that saves anyone from falling off the bridge. It might not be pretty, and maybe not everyone will have a blast building it, but it will save projects’ lives. In a post at the Project Risk Coach, Harry Hall discusses the components that go into making a robust risk management plan. These include the following:

  1. Project risk background
  2. Methodology
  3. Roles and responsibilities
  4. Timing
  5. Risk categories
  6. Definitions
  7. Risk attitude, appetite, and tolerance
  8. Reporting format

Hall elaborates on each of these items, and he also briefly discusses a wide range of variables that might affect more complex projects. To summarize it all here would steal Harry’s thunder, since he writes quite concisely as is, so do yourself a favor and check out the full post here: http://projectriskcoach.com/risk-management-plan/

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