Summary

Congratulations! You’ve completed another fun-filled, action-packed chapter, and all of it on a single topic—risk. Risk is inherent in all projects, and risks pose both threats to and opportunities for the project. Understanding the risks facing the project better equips you to determine the appropriate strategies to deal with those risks and helps you determine the response plans for the risks (and the level of effort you should put into preparing those plans).

The Plan Risk Management process determines how you will plan for risks on your project. Its only output is the risk management plan, which details how you’ll define, monitor, and control risks throughout the project. The risk management plan is a subsidiary of the project management plan.