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When in the project lifecycle should risk management be done?

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During which stage in the project lifecycle should we manage the risks? Is it only during the executing stage?
asked 7 years ago by anonymous

1 Answer

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You start managing risks during the project initiation when you create the project charter and list the main risks (even at this point it's called risk management). You then continue your risk management work in the planning phase, by creating the RMP (Risk Management Plan), and of course, you manage/mitigate risks and apply contingencies for materialized risks during the executing phase. Risk management work will be very minimal past this stage, and it is reduced only to crisis management (for example, a war has erupted and you cannot deliver the project...).
answered 7 years ago by MaplePM (46,940 points)

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