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What is the difference for risk mitigation and response plans in RiskyProject and how does it reflected in schedule risk analysis?
Decision Analysis, Risk Management, Construction Risk, Project Risk Management
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In project risk analysis and risk management risk mitigation plants are the set of activities plan which is designed eliminate to minimize impact of threats and maximize effect of opportunities. Mitigation plan is created during process of risk identification. Activities associated with mitigation plans usually part of the schedule and executed together with other activities of the schedule. Risk Response Plan is also a set activities plan which is designed eliminate to minimize impact of threats and maximize effect of opportunities. However risk response plan is created during process of project planning, but executed after risk occurred.
In RiskyProject risk mitigation and response plans are defined in Mitigation / Reponse View. Risk mitigation plans are assigned to the risks in Waterfall tab of risk information dialog box (when you double click on risk ID in risk register). Risk Response plan are assign to the risk in Properties Tab of risk information dialog box. It is important to note that you may have many mitigation plans per one risk but only one risk response plan.
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