Risk Response Plan

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Contents

Abstract

Introduction

Risk and Uncertainty

Importance of Risk Planning in Project Management

Murphy's Law

Advantages: Improved decision-making,Increased confidence, Better preparedness, Cost savings, Improved risk management.

Steps to develop a Risk Response Plan

Identify Risks

Assess Risks

Risks Categorization

Prioritize the Risks

Select Risk Responses

Monitor and Control Risks

Limitations

Final Remarks

References

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