Using the six risk management processes
· Plan Risk Management
· Identify Risks
· Perform Qualitative Risk Analysis
· Perform Quantitative Risk Analysis
· Plan Risk Responses
· Monitor and Control Risks
Plan Risk Management
WHAT IS A RISK MANAGEMENT PLAN?
Methodology – Approach, tools, & data
Roles & Responsibilities
Budgeting – Resources to be put into risk management
Timing – When and how often to review
Risk Categories – Risk Breakdown Structure (RBS)
Definitions – Risk probabilities and impact
Severity and Frequency Matrix
Stakeholder tolerances
Reporting formats
Establish tracking methods
