Risk management plan | Risk management plan

RiskmanagementplanFromWikipedia,thefreeencyclopediaJumptonavigationJumptosearchThisarticleneedsadditionalcitationsforverification.Pleasehelpimprovethisarticlebyaddingcitationstoreliablesources.Unsourcedmaterialmaybechallengedandremoved.Findsources: "Riskmanagementplan" – news ·newspapers ·books ·scholar ·JSTOR(November2007)(Learnhowandwhentoremovethistemplatemessage)Ariskmanagementplanisadocumentthataprojectmanagerpreparestoforeseerisks,estimateimpacts,anddefineresponsestorisks.Italsocontainsariskassessmentmatrix.Ariskis"anuncertaineventorconditionthat,ifitoccurs,hasapositiveornegativeeffectonaproject'sobjectives."[1]Riskisinherentwithanyproject,andprojectmanagersshouldassessriskscontinuallyanddevelopplanstoaddressthem.Theriskmanagementplancontainsananalysisoflikelyriskswithbothhighandlowimpact,aswellasmitigationstrategiestohelptheprojectavoidbeingderailedshouldcommonproblemsarise.Riskmanagementplansshouldbeperiodicallyreviewedbytheprojectteamtoavoidhavingtheanalysisbecomestaleandnotreflectiveofactualpotentialprojectrisks.Mostcritically,riskmanagementplansincludeariskstrategy.Contents1Riskresponse2Examples3Seealso4References5ExternallinksRiskresponse[edit]Mainarticle:Riskmanagement§ PotentialrisktreatmentsBroadly,therearefourpotentialresponsestoriskwithnumerousvariationsonthespecifictermsusedtonametheseresponseoptions:[2][3]Avoid–Changeplanstocircumventtheproblem;Control/mitigate/modify/reduce–Reducethreatimpactorlikelihood(orboth)throughintermediatesteps;Accept/retain–Assumethechanceofthenegativeimpact(orauto-insurance),eventuallybudgetthecost(e.g.viaacontingencybudgetline);orTransfer/share–Outsourcerisk(oraportionoftherisk)toathirdpartyorpartiesthatcanmanagetheoutcome.Thisisdonefinanciallythroughinsurancecontractsorhedgingtransactions,oroperationallythroughoutsourcinganactivity.(Mnemonic:SARA,forShareAvoidReduceAccept,orA-CAT,for"Avoid,Control,Accept,orTransfer")Riskmanagementplansoftenincludematrices.Examples[edit]TheUnitedStatesDepartmentofDefense,aspartofacquis

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