What must be included in the risk management approach, as a minimum requirement for applying the risk theme?
What must be included in the risk management approach, as a minimum requirement for applying the risk theme?
A risk management approach must include a description of the risk management procedure as a minimum requirement for applying the risk theme. This procedure outlines the steps and methods that will be used to identify, assess, respond to, and monitor risks throughout the project. It ensures that all participants understand how to handle risks systematically and consistently.
Information about all project risks are maintained in a risk register, and a risk management approach is written to outline the general approach to risk management during the project. Included in this approach is a description of the risk management procedure.