Risk Strategy and Planning - Risk Management (PMI-RMP)

Apply ITTOs to risk strategy and planning by analyzing inputs with analytical techniques, expert judgment, and meetings, then produce a risk management plan to enhance resilience and sustainable operations.

Identify ITTO inputs: project management plan, project charter, stakeholder register, enterprise environmental factors, and organizational process assets as foundational elements that provide data and resources to guide risk management.

Integrate the risk management plan with the project management plan using approved baselines and other plans as inputs to define risk identification, tolerance, resources, schedules, budgets, and communication.

Explore the project charter, detailing purpose, measurable objectives, high-level requirements, overall risk, milestones, budget, stakeholders, approvals, exit criteria, and the roles of project manager and sponsor.

Enterprise environmental factors shape project management by directly dictating processes or indirectly influencing structure, with internal factors like culture and policies and external factors like regulations and market conditions.

Explore organizational process assets (OPAs) and how policies, templates, historical data, risk databases, and lessons learned guide projects in planning, execution, and governance.

Identify and map stakeholders, assess their interests and risk tolerance, prioritize them by influence and interest, and tailor the risk strategy to align with expectations, building support for risk management.

Craft a well-defined risk statement using a structured format that includes risk identifier, risk source, risk event, risk impact, likelihood, severity, category, and owner. See examples like R001.

Navigate the risk breakdown structure, a hierarchical framework that categorizes risks to systematically identify and manage risk across project management, organizational, external, and HSE domains.

Assess risk likelihood using a consistent scale and define impact criteria to build a standardized probability and impact matrix, improving uniform risk data and cross-project decision making.

See how a RACI chart clarifies task ownership by defining who is responsible, accountable, consulted, and informed. Build and review the matrix to improve accountability, communication, and risk management.