Risk management planning is focused on how to approach and plan the risk management activities for a project. In risk

identification

$,$ the risks that can affect the project for better or for worse are identified. In

risk analysis, non$-$numerical priorities are established for the risk events identified previously. In quantitative risk analysis, probability and impact are converted into expected monetary value. In risk response planning,

plans are established to capture opportunities and respond to threats. In risk monitoring and control, warning signs and triggers are used to determine when corrective actions are required to bring the project back on track.

Creating the

Management Register is the last process. It creates a permanent register of identified risks, methods used to mitigate or resolve them, and the results of all risk management activities.