Project Manager Risk Management

If the risk is considered by the Project Manager to be valid, then the risk is Project Management Template documented in the Risk Register and a Risk ID is assigned. The Project Manager will assign a level of ‘impact’ and ‘likelihood’ to the risk, based upon the predicted risk severity.

Assign Risk Actions

The Project Plan Review Group then complete a formal review of each risk listed in the Risk Register and decide based on the risk impact and likelihood, whether to:

- Assign risk actions to mitigate the risk
- Raise a change request if a change to the project is required to mitigate the risk
- Close the risk in the Risk Register, if there are no outstanding risk actions and the risk is no longer likely to impact on the project.