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Risk Mitigation and Response Plans View

You can model risk mitigation or response efforts in RiskyProject using the Mitigation or Response View. Response plans are activities that are executed when a risk occurs and are used for quantitative risk analysis. Mitigation plans are actions that are performed to minimize risk probability and/or impact and can be visualized using the Risk Mitigation Waterfall Chart.

Mitigation or/and response plan must be assigned to the risk. Assigning Risk Response Plans and Assigning Risk Mitigation Plans for more information.

  • Risk Mitigation or Response Plan: Text description of the risk mitigation plan name.
  • Plan Type: Select if it is a Mitigation (qualitative) or Response (quantitative plan)
  • Outcome Type: See Risk Outcome Types
  • Outcome: See Risk utcomes
  • Chance: Chance that the selected risk, assigned to the task or resource or particular risk alternative will occur. In this document, chance of risk occurrence usually refers to input chance for risk assignment. Risk probability refers to the calculated probabilities for this risk, which can be different.
  • Chart Chance: Calculated chance that the response plan will occur.
  • Used in Risks: List of risks that the plan is assigned to.
  • Cost: Cost of risk plan. Used in Cost of Risk calculations.
  • Prob. Reduction: Amount by which the risk plan will reduce the probability of the risk occurring
  • Impact Reduction: Amount by which the risk plan will reduce the impact of the risk
  • Description: Textual description of risk. Double-click on Risk Plan ID, will open the extended Risk Description field.

See alsoso

Assigning Risk Response Plans

Creating Risk Mitigation and Response Plans

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