Prepare the risk management strategy


The risk management strategy describes the goals of applying risk management, the procedure that will be adopted, the roles and responsibilities, the risk tolerances, the timing of risk management activities, the tools and techniques that will be used, and the reporting requirements.

What this means

Consideration: How will this project team manage risks?

The project management team needs to decide how they want to manage risks before they can start to manage them on the project. Each project will be different, not only because of the people involved, but the size and nature of the project. Some organizations will have strict risk management guidelines, while others ...

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