Risk Of A Risk Response Plan

• What is the purpose of a risk response plan?
As humans, there is always a possibility of experiencing risk one way or the other. That is to say, some risk can be anticipated and can be captured in the company’s budget, while some I assume may be come unannounced but the important thing is that, there’s always a way out to avoid, transfer or defer the identified risk. Mostly risk response plan is developed to give a strategic option and determine action to enhance opportunities and reduce threats to projects goals. As a growing company with a huge prospect, a facility move by the company is that has gone through a lot of scrutiny considering all aspect of risk and possible solution.

• What is a risk owner?
Risk ownership has to deal the responsibility that falls on the shoulders of individual or individuals mostly project team member who is task to manage, monitor, identifies, assess, record, and remediate where possible. A risk owner is also tasked to oversee the management of risk and most importantly assures stakeholders of the necessary mechanism put in place to curb it in case there’s one.
• Who should be appointed to own risk on a project?
Having seen the frustration that come with poor risk management, a company that is growing steadily, requires a project risk management team who will conduct, identify, analyze, and control risk on a project in order to ensure project goal at the end.
• What is a risk owner 's role in the risk response plan?
The last time I checked, especially reading the books, it was obvious that project managers have a job that is not without problems. Therefore, of the ultimate and awesome responsibility of a risk owner is to carefully develop and explore the various options and action plan. Also...

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...oject’s mission, objectives, and deliverables. A work breakdown structure of work requirements is also included with the project schedule and budget to cover all project costs. All required resources are specified and assessments of foreseeable project risk provided”. I was able handled it, base on the advice I get from the elderly and experienced people who have been in it for so many years.

• Should they have been handled differently?
Based on what I see today, I feel great about how things are moving and the way we get alone says it all. I would not change if ask to handle it differently. This paper explores a new avenue for increasing resilience, identifying security risks, working with the business to find risk treatments for those risks, and still allowing the business to thrive and meet the goals set for organizational success. Petruzzi, & Loyear, R. (2016).