CHAPTER 3

Risk Management Planning

Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable.

—SYDNEY J. HARRIS

Risks are inherent in every project. There is no avoiding them; therefore, you must make plans to manage risk and minimize its impact on the project. Risk response planning occurs during the project planning process, as illustrated in Figure 3-1.

EXECUTING RISK MANAGEMENT PLANNING

Risk management planning deals with two types of risks: identifiable risks and unmanaged assumptions. Identifiable risks are those that can be recognized during planning and engagement contracting ...

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