Plan Risk Responses is part of the “Risk Management” Knowledge Area, and is part of the “Planning” Process Group.
Plan Risk Responses is the process of developing options and actions to enhance opportunities and to reduce threats to project objectives. The key benefit of this process is that it addresses the risks by their priority, inserting resources and activities into the budget, schedule and project management plan as needed.
The Plan Risk Responses process follows the Perform Quantitative Risk Analysis process (if used). Each risk response requires an understanding of the mechanism by which it will address the risk. This is the mechanism used to analyze if the risk response plan is having the desired effect. It includes the identification and assignment of one person (an owner for risk response) to take responsibility for each agreed-to and funded risk response. Risk responses should be appropriate for the significance of the risk, cost-effective in meeting the challenge, realistic within the project context, agreed upon by all parties involved, and owned by a responsible person. Selecting the optimum risk response from several options is often required.
The Plan Risk Responses process presents commonly used approaches to planning responses to the risks.
Risks include threats and opportunities that can affect project success, and responses are discussed for each.
This definition was found in the PMBOK V5
Go back to the Glossary or to the Mapping
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Plan Risk Responses has:
Inputs:
- Risk Management Plan
- Risk register
Outputs:
- Project documents updates
- Project Management Plan updates
Tools and techniques:
- Contingent response strategies
- Expert judgment
- Strategies for negative risks or threats
- Strategies for positive risks or opportunities
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