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Project Development Workflow Tasks (PDWT)
Part 3 - Identify Project Need and Project Initiation Document
II. Project Initiation Document
E. Prepare and Approve PID (WBS 150.25) - Prepare Draft PID (WBS 150.25.05)
Risk management enables a project team to identify, analyze and manage risks as they arise and change through the life of a project. It allows potential obstacles to successful project delivery to be identified and dealt with early, thereby minimizing their impact on project cost, scope, schedule, and quality. Appropriately managing risks will help the Department meet its project delivery commitments and provide project stakeholders better information on which to make project decisions.
The Risk Management Plan is a team tool. The Project Delivery Team (PDT) develops the plan and manages the risks it identifies. Through active participation in identifying and managing risks, the team will be able to develop work plans and schedules that incorporate considerations of risk, document and resolve project issues as they arise, share accountability for project successes and challenges, and make better informed decisions.
The Risk Management Plan will include risk identification, analysis, an appropriate risk response strategy, monitoring, and control. The Risk Management Plan shall be initially developed during the Project Initiation Document (PID) phase. Since risks change and emerge as the project progresses, the Risk Management Plan shall be continually managed and re-evaluated throughout the project development process. At a minimum, the plan shall be re-assessed at major project milestones.
The Project Delivery Team lead by the project manager is responsible for identifying and managing risks associated with activities, tasks and deliverables.
If you have any questions about the Project Development Procedures Manual send e-mail to:email@example.com
This page last updated November 20, 2010