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In the last post, I described the changes that must be made to the components of the project management plan as a result of planning risk responses, these components being the management plans that cover various knowledge areas such as the schedule management plan, cost management plan, quality management plan, etc., but also the baselines for the main three constraints:  the scope baseline, cost baseline, and schedule baseline.

All of these changes require change requests since they amend the project plan.   With these changes to the project documents that I describe below, there is no need to create a change request.

11.5.3.3  Project Document Updates

• Assumption log–if during the plan risk response process, new assumptions are uncovered, or new constraints identified, the assumption log is updated to include them.
• Cost forecasts–planned risk responses may require changes in the cost forecasts because the contingency reserve needed to fund those responses needs to be taken into account
• Lessons learned register–the lessons learned register is updated with information about risk responses that may be useful for later phases of the project.
• Project schedule–activities relating to agreed-upon risk responses may be added to the project schedule
• Project team assignments–the necessary resources need to be allocated to the risk responses, including personnel (usually within the project team) to implement the agreed-upon action.   The project team assignments are updated to these new roles related to the risk responses.
• Risk register–to the risks identified and analyzed in earlier processes, the following information is added as a result of this process:
  • Agreed-upon risk responses strategies
  • Specific actions to implement the chosen response strategy
  • Trigger conditions, symptoms, and warning signs of a risk occurrence (for contingent risk responses), along with contingency plans if the risk is triggered
  • Budget and schedule activities required to implement the chosen risk responses
  • Fallback plans when the primary response proves to be inadequate
  • Secondary risks that arise as a direct outcome of implementing a risk response
  • Residual risks that are expected to remain after planned responses have been taken
• Risk report–in the case of high-priority risks, presentation of agreed-upon risk responses and a list of current project risk owners, together with the expected changes that may be expected as a result of implementing these risk responses.

Now that the risk responses have been planned, it is time to move on to the executing phase of the project, where risk responses are implemented.   This means moving on to the next process, process 11.6 Implement Risk Responses, which will be discussed in the next post.

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