Give an Outline of the RMMM Plan?

Answer 1

RMMM -risk mitigation, monitoring and management involves checking risks on three parts, mitigation which involves reducing the chances of risk occurrence, monitoring which is a project tracking activity that indicates whether risks are becoming less or more likely, and risk management that assumes that a risk has occurred and therefore seeks to control its spread and severe impacts.

RMMM plan include the following items:

1. introduction which consist of the name/identity, scope and objectives of the intended RMMM and the risk management organizational role which gives a description of who is in charge of the risks in the organization

2. project risks involving risk table (that gives description of various risk types, their probabilities and impacts), and risk refinement

3. Risk mitigation, monitoring and management

4.special conditions that may positively or negatively affect the project