How to Develop a Risk Management Plan

Developing an effective Risk Management Plan is an important part of any project. Unfortunately, this step is often avoided with the “deal with it later” attitude. If everything goes smoothly and without incident, that approach does no harm. But normally, issues do arise and without a well developed plan, even small issues can become emergencies.

There are different types of Risk Management and different uses that include calculating credit-worthiness, planning for adverse events (i.e. disasters), determining how long the warranty on a product should last, calculating insurance rates, and many more. In this document we will look at Risk Management from the standpoint of planning for adverse events.

Please click here to know the various stages in developing a Risk Management Plan