Mastering Risk and Procurement in Project Management: A Guide to Planning, Controlling, and Resolving Unexpected Problems

5. Risk Response Strategies

5.1 Introduction

During the execution phase of the project, when work activities are underway, is when problems are most likely to occur and the project manager or project staff must respond. As we have seen in previous chapters, the best course of action for responding to problems is having anticipated problems and documented their planned responses. The execution phase of the project can be a busy and stressful time for the project manager and project staff, but spending quality time identifying and planning responses for risk will prove valuable.

The execution phase is when work activities are being completed, so the project manager and project staff should be on high alert anticipating identified risks and insuring ...