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This form provides a guide to the topics usually included in a Risk Management Process, which aids in identifying, quantifying and managing risks during execution.
This document, uploaded by Method123, provides a guide on the topics usually included in a Risk Management Process. Although the Risk Management Process is undertaken during the 'Execution' phase of the project (i.e. the phase within which the deliverables are produced), project risks may be identified at any stage of the project lifecycle. In theory, any risk identified during the life of the project will need to be formally managed as part of the Risk Management Process. Without a formal Risk Management Process in place the objective of delivering a solution within 'time, cost and quality' may be compromised.
A Risk Management Process is a method by which risks to the project (e.g. to the scope, deliverables, timescales or resources) are formally identified, quantified and managed during the execution of the project. The process entails completing a number of actions to reduce the likelihood of occurrence and the severity of impact of each risk.
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