Question

Please provide your own unique response to the following:

What is the relationship between the risk response plan and external project influences?

When would a market opportunity for a project be incorporated into the project risk management plan?

How and when would you recommend that external project influences be documented in the risk response plan?

Answer 1

Relationship between the risk response plan and external project influences :-

The risk response planning reduces the risks and threats of the project. It helps to reduce the threats of the project and finds the responsibilities of the project risk in a particular project. An effective planning can identify whether in later period, the risk and uncertainty may increase or decrease in the project. Many external influencing sources there to make the risk response plan effective such as it must be time and cost effective, agreeable etc. External influence are controlled by the project members in the early stages of the project life cycle. Thus it is important to identify the potential risks in the early stages for the succession of the project.

Hope this helps :)