Creating the Risk Plan

Kenneth has 14 years of healthcare experience in government and private industry. Over eight years of experience managing healthcare IT projects, operations, contracts, and personnel. His work experience includes project management, contracts and procurements, data analysis, claims adjudication, business writing, and business process modeling. Kenneth was certified in 2006 as a Project Management Professional.

  Risk Management  

The risk plan is a key component of the project management processes that govern a project or a program. As the project manager, you need to spend some time understanding how the organization deals with risk and understanding how your team deals with risk.

The risk plan should take all of these things into consideration. It is more than just a process of identifying, analyzing and mitigating risks; it should account for how risks are dealt with specifically within the ongoing project. It also may change over time and should be refreshed at regular intervals during the different phases of the project in order to stay accurate and relevant.

The Stakeholders
One of the key elements to the risk plan is the identification of the stakeholders involved in managing risks to the project. These are the people who are involved in the project and are aware of how much risk the project can handle—and how much risk they are willing to consider before removing their support for the project.

These stakeholders should be identified in the plan. A communication plan that shows how the project team will communicate with them about the risks that are being tracked and mitigated by the project manager should be created. The plan for engaging stakeholders should be created at the very beginning of the project and followed carefully throughout the project lifecycle so that the …

Please log in or sign up below to read the rest of the article.