This is the final planning process for risk management, and it is ultimately the most important because you plan on doing risk responses to mitigate individual project risks and thus ultimately reduce the overall project risk.
The tools and techniques, like those in the previous process 11.4 Quantitative Risk Analysis, are so numerous and complex that I am breaking up the post into two parts: this post will cover the “generic” tools and techniques that are used in many planning processes, not just this one: expert judgment, data gathering, interpersonal and team skills, and decision making. The next post will cover those tools and techniques which are specific to this process.
11.5.2 Plan Risk Responses: Tools and Techniques
11.5.2.1 Expert Judgment
Like all planning processes, you should consider expertise from individuals or groups with expertise in the process you are planning to do. In this case, that would be those who have expertise in the following:
- Threat and opportunity response strategies
- Contingent response strategies
- Overall project risk response strategies
These strategies are all tools and techniques that will be discussed in the following post.
11.5.2.2 Data-gathering
Interviews can be used to develop responses to individual project risks. The interviews should be with team members who have expertise in developing risk responses or stakeholders who have knowledge about specific individual project risks, particularly risks which have been encountered before on previous, similar projects.
11.5.2.3 Interpersonal and Team Skills
The data-gathering technique listed above is for interviewing individuals regarding risks. You can develop risk responses in a group by using facilitation methods, and it is these facilitation skills which are techniques which can help risk owners understand the risk, and identify and compare alternative risk response strategies.
11.5.2.9 Decision Making
In a group setting such as the facilitation mentioned above, it is important to use decision-making techniques to prioritize and finally decide upon which of the alternative risk response strategies that are developed in the facilitation.
The other tools and techniques are all specific to this process and will be discussed in tomorrow’s post.
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