The risk management plan contains an analysis of likely risks with both high and low impact, as well as mitigation strategies to help the project avoid being derailed should common problems arise. Moreover, according to the Project Management Institute, a risk is "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives." Risk is inherent with any project, and project managers should assess risks continually and develop plans to address them. Program, or portfolio management plan that describes how risk management activities will be structured and performed." According to the Project Management Institute, a risk management plan is a "component of the project, It also contains a risk assessment matrix. ( July 2021) ( Learn how and when to remove this template message)Ī risk management plan is a document that a project manager prepares to foresee risks, estimate impacts, and define responses to risks. Please help to improve this article by introducing more precise citations. This article includes a list of general references, but it lacks sufficient corresponding inline citations.
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