Risk categories

Risk to a project can arise from one of the following four categories
Risk management process (RMP)
  All risk management processes follow the same basic steps,
although sometimes different jargon is used to describe these
steps.
 Together these 5/6/7 risk management process steps combine
deliver a simple and effective risk management process.
 Steps of the Risk Management Process
 The Risk Management process steps are a generic guide for any
organization, regardless of the type of business, activity or
function

Step1. Communicate and consult.

Step2. Establish the context.
Step3. Identify the risks.
Step4. Analyze the risks.
Step5. Evaluate the risks.
Step6. Treat the risks.
Step7. Monitor and review
The risk management plan includes
These elements and guidelines:

• Develop and document an organized, comprehensive

& interactive risk management strategy.
• Determine the methods to be used to execute a risk
Management strategy.
• Plan for adequate resources.
• List of possible risk sources and categories
• Impact and probability matrix
• Risk reduction and action plan
• Contingency plan
• Risk threshold and metrics
The main contents of a Risk Management Plan
(PMP) are as follows:
• Project description: Only required if it is a
standalone document and not part of the PMP;
Types of risks. Political, technical, financial,
environmental, security, safety, program etc.;
• Risk processes: Qualitative and/or quantitative
methods, maximum numbers of risks to be listed;
Tools and techniques: Risk identification methods,
size of P-I Matrix, computer analysis etc.;
• Risk reports: Updating periods of Risk Register,
exception reports, change reports etc.;
• Attachments: Important project requirements,
dangers, exceptional problems FBN