How do you Plan Risk Management?

Risk management planning is the process used to decide how the risk management activities for the project at hand will be performed. The major goals for planning risk management are threefold: Ensure that the type, level, and visibility of risk management are proportionate to the actual risk involved in the project and the importance of the project to the organization; secure sufficient resources, including time for risk management activities; and set up an agreed-upon basis for evaluating risks.

To be more explicit, you use the risk management planning process to determine the following:

• How to approach the risk management activities for this project

• How to plan the risk management activities

• How to execute the risk management activities