Managing Risk in Information Systems

Chapter 4. Developing a Risk Management Plan

A RISK MANAGEMENT PLAN is a specialized type of project management. You apply many of the same techniques to risk management that you would when managing any project. At the core is the need to plan. As the old saying goes, if you fail to plan, you plan to fail. Without a risk management plan, failure is much more likely than success.

A well-documented risk management plan helps ensure you are able to reach your desired goal. Primarily, you create a risk management plan to mitigate risks. This plan helps you identify the risks and choose the best solutions. It also helps you track the solutions to ensure they are implemented on budget and on schedule. A fully implemented plan will include a plan of action ...