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Risk Management Planning
October 8, 2008 | Author: PM Hut | Filed under: Project Plan Refinement, Risk Management
Risk Management Planning
By Tom Carlos (PMP)
Risk Management Planning is the process of deciding “if and how” to implement “Risk Management.” This includes:
- Complexity and level of Risk Management
- Type of Risk Management
- Visibility within and beyond the project
Risk Management Planning…
- reflects the organization’s attitude and tolerance for risk
- is based on a project’s complexity and scope
- should begin as early as possible
- defines the level of depth and detail that the Risk Management Plan (and process) will address
Outputs from Risk Management Planning include:
- Methodology (Risk Mgt Plan)
- Roles and Responsibilities
- Budget, Schedule
- Risk Categories
- Definition of “probability” and “impact”
- Identification of Risk Tolerance levels
- Definition of tracking processes, reporting formats, and intervals
- Risk Management Plan
The Project Manager should meet with team members so that they can become familiar with the process, tools, techniques, and expectations of this phase.
Tom Carlos has over 20 years of cumulative experience in business, technical, and training environments. He is a Certified Project Management Professional (PMP) and member of the Sacramento Valley PMI Chapter. For other articles on similar subjects, you can visit www.carlosconsulting.com or contact him at tom@carlosconsulting.com.
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