Plan Risk Responses Process

Posted on April 9, 2009 by

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Plan Risk Responses is one of the 42 project management processes described in the fourth edition PMBOK®. It’s one of the six Risk knowledge area processes, and one of the twenty Planning processes. The purpose of this process is to develop plans to minimize threats (negative risk) and maximize opportunities (positive risk). The Risk Register, which lists the project risks and information about them, and the Risk Management Plan, which provides overall guidance for the risk processes, are both needed. For each risk on the register that is important enough to warrant investing time into planning a response, a strategy is chosen. The seven strategies are: Avoid, Transfer, Mitigate, Accept, Exploit, Share, and Enhance. Please see the earlier postings of Positive Risk Strategies (posted April 1, 2009) and Negative Risk Strategies (posted March 31, 2009) to read more about these strategies. Contingency Response Strategies may also be developed, which are plans that are executed only if a certain trigger occurs. The outputs of this process include Risk-Related Contract Decisions and updates to several documents including the Risk Register, Project Management Plan, and Project Document updates.