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Participants in risk identification activities can include the following: project manager, project team members, risk management team (if assigned), customers, subject matter experts from outside the project team, end users, other project managers, stakeholders, and risk management experts.The outputs of these activities will be summarized in the risk management plan.
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If templates for other steps in the process do not exist they may be generated in these meetings.General organizational templates for risk categories and definitions of terms such as levels of risk, probability by type of risk, impact by type of objectives, and the probability and impact matrix will be tailored to the specific project.Risk management responsibilities will be assigned.Risk contingency reserve application approaches may be established or reviewed.Risk management cost elements and schedule activities will be developed for inclusion in the project budget and schedule, respectively.High-level plans for conducting the risk management activities are defined in these meetings.Attendees at these meetings may include the project manager, selected project team members and stakeholders, anyone in the organization with responsibility to manage the risk planning and execution activities, and others, as needed.Project teams hold planning meetings to develop the risk management plan.Moving forward on a project without a proactive focus on risk management increases the impact that a realized risk can have on the project and can potentially lead to project failure Risk exists the moment a project is conceived.A conscious choice must be made at all levels of the organization to actively identify and pursue effective risk management during the life of the project.A consistent approach to risk should be developed for each project, and communication about risk and its handling should be open and honest.These risk attitudes are driven by perception, tolerances, and other biases, which should be made explicit wherever possible Individuals and groups adopt attitudes toward risk that influence the way they respond.Organizations perceive risk as the effect of uncertainty on their project and organizational objectives.Project risk has its origins in the uncertainty present in all projects.A cause may be a requirement, assumption, constraint, or condition that creates the possibility of negative or positive outcomes. A risk may have one or more causes and, if it occurs, it may have one or more impacts.
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