Risks and opportunities management

Success Problem

What is the risks and opportunities management definition?

Impact

Risks and opportunities management definition is a part of the project definition, defining the objectives and rules (strategy) for the project manager and interested parties for the risk mitigation and project opportunities exploitation.

Recommendation

Risks and opportunities management definition describes the methods, tasks and responsibilities, risk tolerance lines and opportunities tolerance line, timing of the risk mitigation actions, actions to opportunities exploitation and requirements for sending the project progress reports and exceptions reports. Risk and opportunities management definition serves as basis for later more detailed risk and opportunities management plan and for the project risks and opportunities management.

Category

• Risk & Opportunities
• Decision Competences