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This section explains why risks exist and highlights the purpose and importance of the risk management plan.
Upon the completion of the project, during the closing process, the project manager will analyze each risk as well as the risk management process.
Before risk management begins it is imperative that a foundation is established for providing structured project information, thus, the following project elements were completed and defined prior to developing this Risk Management Plan: The top three high probability and high impact risks to this project are: Delay in Server Equipment Due to a manufacturer’s production backlog, the servers are not available for large scale application testing causing a delay in the project schedule.
The project manager will mitigate this risk by using servers from the backup data center if needed.
Here the Risk Management Plan explains the process by which the risks associated with this project were identified.
It should describe the method(s) for how the project team identified risks, the format in which risks are recorded, and the forum in which this process was conducted.