Plan Risk Management

Project Risk Management

• Plan Risk Management is the process of defining how to conduct risk

management activities for a project.
• This process is performed once or at predefined points in the project.
• The PRM process should begin when a project is conceived and should be
completed early in the project.
• It may be necessary to revisit this process later in the project life cycle, for
example at a major phase change,
• or if the project scope changes significantly,
• or if a subsequent review of risk management effectiveness determines that the
Project Risk Management process requires modification.
PRM Data Flow Diagram
Plan Risk Management - Inputs

• Project Charter
• Project Management Plan
• Project Documents
• Enterprise Environmental Factors
• Organizational Process Assets
Plan Risk Management – Tools and Techniques

• Expert Judgment
• Meetings
Plan Risk Management - Outputs

• Risk Management Plan

• Risk Strategy
• Methodology
• Roles and Responsibilities
• Funding
• Timing
• Risk Categories
• Stakeholder Risk Appetite
• Definition of risk probability and impacts
• Probability and impact Matrix
• Reporting Formats
• Tracking
Risk Breakdown Structure RBS
Probability and Impact