Risk Management Process

Leadership Champions (2008)

1.
Risk Planing: Adapt risk management approach by exploring the possible ways to reduce
impact of threats (Pmtips , 2010).
2.
Risk Identification: Predict effects on plan and document the characteristics (Pmtips ,
2010).
3.
Risk Analysis: Assess likelihood and impact of risks while analyzing the probability of
risk occurance and numerically analyze effects of identified risks on project
objectives (Leadership Champions, 2008).
4.
Risk Response: Develop contingency measures and plan possible responses to
risk occurance (Pmtips , 2010).
5.
Risk Action: Implement risk reduction methods to measure the effectiveness of
the planing and controlling the risk impact (Leadership Champions, 2008).