Web Project Template Files: Project Definition and Start Up Authors: Sonia Kay, Econsultancy and other expert contributors Title: Risk Response Plan
About this Guide
The Risk Response Plan captures the outputs of risk analysis, documenting the potential actions that could be taken, as well as the chosen course of action.
There are four potential approaches to each risk;
1. Avoidance - alter your course of action so that the risk is no longer there
2. Transference - transfer the risk to someone else e.g. incorporate penalty clauses into contracts or take out insurance against the occurrence of the risk
3. Mitigation - prevent the risk occurring or reduce its impact
4. Acceptance - don’t worry about it because it’s of little impact or probability, or because it simply can’t be mitigated.
It’s worth spending the time up front to evaluate the probability, impact and potential responses to each risk as it will save time and minimise impact if a potential problem becomes a reality. You’ve already agreed what you’re going to do about it.
We’d like to thank Rob Purdie of Important Projects http://importantprojects.co.uk for providing this template. Important Projects is a values-led project management consulting and training practice focused on helping social change organisations manage their most important programs, projects and ongoing operations more successfully and effectively.