A quality response will apply the components of the definiti

A quality response will apply the components of the definition of a project; describe progress through the project life cycle; and reference quality of managing the scope, time and cost (the three project objectives).

Solution

Risk Management Planning: deciding on how to approach, plan and execute risk mgmt activities for a project. Risk Identification: determining which risk can effect the project and documenting their characteristics. Qualitative Risk Analysis – Prioritizing risks for subsequent further analysis or action by assessing and combining their probability of occurrence and impact. Quantitative Risk Analysis – Numerically analyzing the effect on overall project objectives of identified risks. Risk Response Planning: developing options and actions to enhance opps and reduce threats to project objectives. Risk Monitoring and Control: tracking identified risk, monitoring residual risks, identifying new risks, executing risk response plans and evaluating their effectiveness though the project life cycle.