Risk Assessment

Each risk that has been found will be looked at in terms of how likely it is to happen and how it might affect the project. This evaluation will help put the risks in order of importance and direct the creation of effective ways to reduce them.

Risk Mitigation Strategies

For each risk that has been found, the paper will list specific steps that can be taken and backup plans that can be used to make it less likely that the risk will happen or lessen its effect on the project. Some of these methods are:

• Processes for proactive planning and managing risks

• Early warning and tracking tools that work all the time

• Planned budgets and extra time in the plan

• Working together with leaders in the field and business partners

Regular Updates

During the building process, the risk analysis paper will be looked over and changed on a regular basis. This will make sure that the risk management plan stays up-to-date and adaptable to new information, changing circumstances, and new dangers.