5. Planning risk response
Based on the risk analyses and their results, it is then necessary to implement actions to increase opportunities and reduce threats in relation to the project's objectives.
Risks are prioritized using budgeted resources.
Each risk is assigned a risk owner, who is responsible for responding to the risk with a costed action plan to mitigate its consequences and reduce its financial impact.
Risk responses are carried out at meetings led by the contract manager, in the presence of the managers who own each risk.
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Planning risk response
Managing risks
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PMBOK Guide 6th edition: PMI – A guide to the Project Management Body of Knowledge
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