22 Feb Risk Management Plan
Order Instructions
Risk responses
Risk response adds management action to the audit-level work of risk identification and assessment. The development of risk response is the key to providing protection against unfortunate events which the project may suffer. Each risk response should indicate whether it is avoid, transfer, reduce, or accept (sometimes, a combination of these).
This section should consider, for each of the risks identified in the risk register, the actions that should be taken to respond to the individual risks. It would be appropriate to include a brief description of each of the actions in some sort of tabular form, often as additional columns in the risk register. Commonly, these risks and their actions are categorized– for example, they may be categorized by time-phase of the project or by responsibility, or both. The highest priority risks may be listed first within each of these sections. The best plans include assignments of dates due and responsibility.
Note that each individual identified risk may have more than one response, including more than one response type.
** We are to develop a risk response plan for the risk register developed in previous sections.
