Risk management and implementation plan

Risk Management: Fundamental StepsDefinition:Risk mitigation planning is the process of developing options and actions to enhance opportunities and reduce threats to project objectives [1]. Risk mitigation implementation is the process of executing risk mitigation actions. Risk mitigation progress monitoring includes tracking identified risks, identifying new risks, and evaluating risk process effectiveness throughout the project [1].

Keywords: risk, risk management, risk mitigation, risk mitigation implementation, risk mitigation planning, risk mitigation progress monitoring

MITRE SE Roles & Expectations: MITRE systems engineers (SEs) working on government programs develop actionable risk mitigation strategies and monitoring metrics, monitor implementation of risk mitigation plans to ensure successful project and program completion, collaborate with the government team in conducting risk reviews across projects and programs, and analyze metrics to determine ongoing risk status and identify serious risks to elevate to the sponsor or customer [2].


Risk mitigation planning, implementation, and progress monitoring are depicted in Figure 1. As part of an iterative process, the risk tracking tool is used to record the results of risk prioritization analysis (step 3) that provides input to both risk mitigation (step 4) and risk impact assessment (step 2).

Figure 1. Risk Management: Fundamental Steps [3]

The risk mitigation step involves development of mitigation plans designed to manage, eliminate, or reduce risk to an acceptable level. Once a plan is implemented, it is continually monitored to assess its efficacy with the intent of revising the course-of-action if needed.

Risk Mitigation Strategies

General guidelines for applying risk mitigation handling options are shown in Figure 2. These options are based on the assessed combination of the probability of occurrence and severity of the consequence for an identified risk. These guidelines are appropriate for many, but not all, projects and programs.

Figure 2. Risk Mitigation Handling Options [3]

You might also like

Lessons from China  — The Hindu
Transferring the project appraisal function and the erstwhile Planning Commission staff to line ministries would be good moves. ..

Modi's Japan visit 2014: PM has lifted Japanese mood for business with India ..  — Economic Times
He promised to broad-base the kind of welcoming environment that Japanese investors have found in Gujarat and announced the setting up of a "Japan Plus Management Team" in the PMO. He also proposed that Japanese ..

State continues suicide prevention efforts  — The Sheridan Press
In July, the WDH released an updated “Preventing Suicide in Wyoming” plan, which was unveiled publically last week at the Wyoming Suicide Prevention Summit in Casper and will be implemented statewide over the next two years. .. Dr.