A Project Risk Management Plan

1546 Words7 Pages
A risk is an event or condition that, if it occurs, could have a positive or negative effect on a project’s objectives. A project risk is an event which have a positive and negative impact on a project objectives. Risk Management is the process of identifying, assessing, responding to, monitoring, and reporting risks. A Project risk management plan is critical in identifying, monitoring and reporting risks. This Risk Management Plan defines how risks associated with ten story-building project will be identified, analyzed, and managed. It presents the outlines for risk activities how to perform, recorded and controlled throughout the project lifecycle. how risk management activities will be performed, recorded, and monitored throughout…show more content…
Risk identification process will include and conduct within the project team, evaluation environmental factors, project scope and culture of the organization. Detail review and attention will be provide to the constraints, work break down structures, project documents, cost estimates and other this project related documents. Careful attention will be given to the project deliverables, assumptions, constraints, WBS, cost/effort estimates, resource plan, and other key project documents. A Risk Management recording document will be developed and electronically stored in the organization database. A Risk Management Log will be generated and updated as needed and will be stored electronically in the project library located at . 8.4. Risk Analysis There are two types of risk analysis methods will perform by the project manager. These two methods are Qualitative and Quantitative Risk Analysis. 8.4.1 Qualitative Risk Analysis(Replace the Impact and probability table) The project manager will assess the probability of occurrence and impact of identified risk on the project using input from the project team, and then measure the risk level using the following probability of occurrence approach: The probability and impact of occurrence for each identified risk will be assessed by the project manager, with input from the project team
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