Tools And Practices And Purpose Of The Risk Management Plan

908 Words 4 Pages

1.1 Purpose Of The Risk Management Plan 1
2 risk management Procedure 1
2.1 Process 1
2.2 Risk Identification 1
2.3 Risk Analysis 1
2.3.1 Qualitative Risk Analysis 1
2.3.2 Quantitative Risk Analysis 2
2.4 Risk Response Planning 2
2.5 Risk Monitoring, Controlling, And Reporting 2
3 Tools And Practices 2 risk management plan approval 3

Purpose Of The Risk Management Plan
Defense Logistics Information Services (DLIS) Senior Management has decided to update the former risk management plan with an emerging, new risk management plan. This new risk management plan for DLIS will not only diminish the amount of risk for future activities, but will also be in compliance with proper regulations.
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Risk Managements main goal is to recognizing, evaluating, responding to, observing, and report potential risks. This Risk Management Plan purpose is to define how risks associated with the project will be identified, analyzed, and managed. The Risk Management Plan outlines how risk management activities will be performed, recorded, and monitored throughout the lifecycle of the project. The Risk Management Plan is also responsible for templates and practices for recording and prioritizing risks. The Risk Management Plan is created by the project manager in the Planning Phase Process and is monitored and updated throughout the project.

risk management Procedure
The project manager along with the project supporters will ensure that risks are actively recognized, evaluated, and managed during the lifespan of the project. Risks will be acknowledged as prompt as possible in the project to diminish their effect. The steps for achieving this process are outlined in the following sections.
Risk Identification
Risk identification is comprised of the project team, and appropriate stakeholders. It will contain an assessment of environmental influences, organizational culture and the project management plan including the project scope. Vigilant devotion will be given to the project deliverables, assumptions, constraints, WBS, cost/effort estimates, resource plan, and other crucial project documents.
A Risk Management Log will be generated and updated as needed to fit the project

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