4. Plan and estimate action plans to quantify their impact on costs, and set aside provisions for them.

4.1 Reduce risk with a mitigation plan

Measures and work must be carried out before a risk takes effect, in order to reduce its impact.

The mitigation plan must be specific to each identified risk, measurable, auditable, realistic and limited in time. It must have an owner and be supported by verifiable documentation.

An opportunity can be defined as a positive risk. For example, a possible improvement in the project's net margin is potentially attainable (either by increasing the selling price or reducing project costs), as are improvements in cash flow and customer satisfaction.

The opportunity must be classified in one of the following sections.

• Claim to customer...