How to Create a Risk Management Plan | Risk management plan

Risk management plan process · Step 1: Identify potential risks · Step 2: Evaluate and assess potential risks · Step 3: Assign ownership for each potential risk · Step 4 ...SkiptomaincontentSearchHowtoCreateaRiskManagementPlanTheword“risk”evokesmanyreactions.Forsome,itconjuresaterrifyingunknown.Forothers,itservesasanexcitingmotivator.Regardlessofyourpersonalconnotationofrisk,everyprojectmanagerneedstogetcomfortableplanningforandconfrontingriskheadonbycreatingariskmanagementplan.TakeaproducttourWhywriteariskmanagementplan?Inhisbook,DoneRight,WorkfrontCEOAlexShootmanpointsoutthatyoucan’tandwon’twinallthetime.“Tosucceed,youmustfacetheriskoffailureandberesilienttowhatevercomesoutofleftfield...Whatkeepsmegoingintoughtimesistheknowledgethatsuccesstomorrowlivesontheothersideoftoday’sfailure.There’salwaysanotherchancetowin.”TheresiliencythatShootmandescribesismadepossiblebyprojectriskmanagement.Weencounterandplanforrisksineverypartofourlives,frombuyingdisasterinsurancetopracticinganevacuationplan.Wecan’tpredictexactlywhatwillhappen,orwhenariskwillpresentitself,butwecanuseourexperience,wisdom,research,andforesighttoremainaspreparedaspossibleandkeepourcoolwhenrisksmaterialize.UnderstandingprojectrisksTostartwritingariskmanagementplan,let’sfirstlookatahelpfuldefinitionofprojectriskfromAGuidetotheProjectManagementBodyofKnowledge(PMBOK®),2000Edition:“...ariskisanuncertaineventorconditionthat,ifitoccurs,hasapositiveornegativeeffectonaprojectobjective.Thusariskisnotaneventoroccurrencewhichhasalreadybefallenaproject.Itisaneventthatmighthappen.” Somethingthathasalreadyhappenedisaprojectissuethatyoumustactivelyrespondto.Contrarily,aprojectriskissomethingwiththepotentialtooccurthatyoumustremainpreparedfor. The3elementsofeveryriskGregoryBeckerdistinguishestheriskeventfromtwoothercrucialcomponentstoeveryrisk:Theriskitselfistheeventorconditionthatmayhappen.Theriskshouldbeclearlydefinedsothattheconcernismaderealandcanberespondedto. Theconsequenceofariskmustalsobedefinedsoyourteamknowswhat


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