How Do You Create A Project Risk Management Plan?
If you’re a project manager, one of the things you need to do when developing a project is to create a risk management plan. A project of any size can face risks: financial, physical or even legal. Having a risk management plan in place before the project even begins can help to anticipate these risks and minimize or eliminate them before they can damage the project. Make a list of the potential risks. Start by making a list of the categories of the project, and then assess each category for risks. For example, you might have a budget category; determine what factors might increase the budget and list them. Determine the high-priority risks. Prioritize the risks: list them in order of their likelihood and how much of an impact on the project that risk will have if it happens. List the actions you must take if a risk occurs. Have plans in place that can reduce the chances of a risk happening as well as actions that can ease the damage of a risk should it occur. Assign tasks to specific
