The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right

RISK PROCESS81Risk-Management Planning (PMBOK^® 11.1, Plan Risk Management)

What:	Documenting how you will deal with project risks.
When:	Project planning.
Results:	Understanding of project stakeholder risk tolerance and a systematic approach for dealing with project risk.

Assess Stakeholder Risk Tolerance

Different organizations have radically different perceptions of risk. Assess the willingness to accept risk among the sponsors and team members through:

• Meetings

• Discussions and interviews

• Examination of organizational policies

• Review of the project charter and other initial project documents

Test project assumptions by asking clarifying questions of the people listed in stakeholder identification. Validate risk tolerances ...