Which of the following processes includes tasks and roles, risk categories, schedules for risk management activities, definitions of probability and impact, and the stakeholders' tolerances?
A Risk Management Plan outlines how risk management activities will be conducted in a project. It includes tasks and roles, risk categories, schedules for risk management activities, definitions of probability and impact, risk thresholds, and stakeholders’ risk tolerances. This plan provides a framework for identifying, analyzing, and responding to project risks.
A risk management plan also called a “risk mitigation plan” is a well-defined document that tells how to deal with specific risks and what management actions must be taken against those risks in order to mitigate or remove threats to the project tasks and outcomes.
The risk management plan gives teams a sense of measures they need to take in order to identify, analyze, and respond to all the risks running around within the project wheel.
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