Process Definition

Planning this process involves choosing which response approach to use for each identified risk, then creating a plan for that risk.  Contingency plans for addressing identified risks include: avoid, transfer, mitigate, and accept. 

Process Assessment

There are pros and cons as to what approach to take when planning risk responses; qualitative vs. quantitative.  With my experience, I would start with the probability and impact of qualitative risks.

 Plan Risk Response: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide) 5th ed" by Project Management Institute, 2013, p.342. Copyright 2013 by PMI.Inc. Reprinted without permission.

1. Risk Management Plan (Input): This was the actual finished risk management plan by group 3 from PMGT 613.  The Risk Management Plan is a main input for the  Plan Risk Response process.

2. Strategies for Negative Risks: homework from PMGT 613, identifying various risks and then developing a chart on whether, to mitigate, avoid, transfer or accept.

3. Project Document Updates: This HR Management Plan taken from PMGT 501 was used as an example as one of the project management updates.  Its an example of project document update which is an output for planning the risk response process.