Risk Management Framework: Risk Control Response

risk control

Typically the results of the first three steps (Risk Identification, Risk Assessment, Risk Response Development) of the risk management process are summarized in a formal document often called the risk register. A risk register details all identified risks, including descriptions, category, and probability of occurring, impact, responses, contingency owners and current status. The register is…

Risk Management Framework: Contingency Funding and Time Buffers

contingency

This article is part of the Risk Response Development process. This is considered to be a activity inside that process. To understand the full picture please read this article first and follow the links provided to navigate the post. Contingency funds are established to cover project risks—identified and unknown. When, where, and how much money…