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• *A component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed.
• An output of Plan Risk Management process.
• It includes: ◦ Methodology ◦ Roles and responsibilities ◦ Budgeting ◦ Timing ◦ Risk categories ◦ Definitions of risk probability and impact ◦ Probability and impact matrix ◦ Revised stakeholders’ tolerances ◦ Reporting formats ◦ Tracking
International trainer ENG . Hassan Shalaby
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Risk management has mitigation plan for each risk factor. Both internal and external factors are considered.
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The processes in risk and safety management consist of various steps and procedures ranging from identification of the possible danger to establishing mitigation. Besides, the risk and safety management processes should follow the standard procedures as set out in the regulatory frameworks or institutions.
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