11.1 Plan Risk Management
Process Definition
"Plan risk management" is the process of defining how your project organization is going to address risk management. The nature of the project might lend itself to simple qualitative risk management, or your effort might demand rigorous quantitative risk management. This planning process clarifies that approach for the project team and lays the ground rules for risk management during the project. The output for this process is the risk management plan.Process Assessment
As with Scope, Schedule and Cost management plans, I've never seen one of these. The organizations I work for always have a process in place that everyone just follows. However, since few people really understand risk and risk management, this is a plan that SHOULD be in place!
Figure 21. Plan Risk Management: 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. 313. Copyright 2013 by Project Management Institute, Inc. Reprinted without permission.
- Fence Project Charter:The scope statement contains a preliminary list of risks and is an input to the "Plan Risk Management" process.
- Expert Judgment: Outline of a simple but effective technique for conducting risk management for small businesses and small projects.
- PMGT 613 Risk Management Plan Example: This RMP was created as a group assignment for PMGT 613, defining how risk management will be conducted, assigning roles and responsibilities, and presenting tools and templates for the team to use. It represents an output of the plan risk management process.