Plan Risk Responses
Figure 25: Plan Risk Responses: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), (5th Edition)" by Project Management Institute, 2013, p. 342. Newton Square, PA: Project Management Institute, Inc. Reprinted without permission
Figure 25: Plan Risk Responses above depicts all the possible inputs tools and techniques resulting in Project Management plan updates and Project documents updates.
11.5 Plan Risk Responses
Process Definition
The Risk plan response utilizes analysis from the Quantitative analysis if used. The response plan is the first aid to project risk. Risk ownership is usually assigned at this point and a triage of options is employed to mitigate or reduce risk bleed. In some instances, risk opportunity creates a positive impact.
Process Assessment
Doing upfront preparation results in a quicker response time. Having your staff primed and ready to go you can perform CPR to revive a project if it starts to drop dead from identified risks or at best you can reduce the effects of the uncertainties. Giving your team time to analyze the symptoms to come up with a solution.
Plan Risk Responses
11.5.1
Input
The Risk Management is an input for this process and is used to plan risk responses based upon the defined risk impacts.
11.5.2
Tools and Techniques
Discussing Risk with Stakeholders 613:
Discusses a technique used to make stakeholders comfortable with risk.
11.5.3
Outputs
The risk register is an output with a summary of the risk response plan.