Plan Risk Responses

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salman_2005
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Plan Risk Responses

Postby salman_2005 Sat Oct 20, 2018 6:47 pm

Hi Manish,
In Plan Risk Responses, PMBOK says that secondary risk should also be identified. So in this case, do PMs have to plan the risk responses for secondary risks as well and include the responses in the respective project management plan and documents i.e. in the cost baseline, schedule baseline etc?
It may happen that PM couldn't identify a secondary risk whilst finalizing the risk responses. So, can the contingency reserve be used to respond to this secondary risk?

Also, about residual risks, I believe that we should deal with residual risks as and when they materialize and if they are big enough warranting a response? Then we can use management reserve.

Please suggest and correct me if I am wrong.

Thank you.
Last edited by salman_2005 on Sat Oct 20, 2018 7:39 pm, edited 1 time in total.
manishpn
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Re: Plan Risk Responses

Postby manishpn Sat Oct 20, 2018 7:22 pm

salman_2005 wrote:Hi Manish,
In Plan Risk Responses, PMBOK says that secondary risk should also be identified. So in this case, do PMs have to plan the risk responses for secondary risks as well
Yes for all identified risks PM should have a plan.
and include the responses in the respective project management plan and documents i.e. in the cost baseline, schedule baseline etc?
It may happen that PM couldn't identify a secondary risk whilst finalizing the risk responses.
Yes not always secondary risks can be identified and then its unknown unknown
So, can the contingency reserve be used to respond to this secondary risk NO

Please help.

Thank you.
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
salman_2005
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Posts: 58
Joined: Wed Sep 26, 2018 8:15 pm

Re: Plan Risk Responses

Postby salman_2005 Sat Oct 20, 2018 7:52 pm

Got it. Thanks you.

Also, about residual risks, I believe that we should deal with residual risks as and when they materialize and if they are big enough warranting a response? In the case of residual reserve we have to rely on management reserve?
Please suggest and correct me if I am wrong.

Thank you.

Salman

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