Agreed-upon assessment approach, Historical information, Definitions of probability and impact, Risk categories, Pre-established criteria
Assess project risk level
Monitor project risk levels
Align roles and responsibilities with a project RAM (e.g., RACI) chart
avoid, accept, mitigate, enhance, contingency planning etc.
Monitor and close out expired risks
Communicate risk levels to key stakeholders
Define organizational risk roles and responsibilities
Determine appropriate risk response strategy
Prepare reports for different stakeholders
risk register, lessons learned, project management plan, change logs etc.
Document the risk management plan
Empower stakeholders to challenge existing thresholds
Aggregate and summarize risk data, and update project documents
Lead stakeholders to adopt the risk strategy