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11 - PROJECT RISK MANAGEMENT

• Schedule management plan. The schedule management plan is updated to reflect changes in process
and practice driven by the risk responses. This may include changes in tolerance or behavior related to
resource loading and leveling, as well as updates to the schedule strategy.
• cost management plan. The cost management plan is updated to reflect changes in process and
practice driven by the risk responses. This may include changes in tolerance or behavior related to
cost accounting, tracking, and reports, as well as updates to the budget strategy and how contingency
reserves are consumed.
• Quality management plan. The quality management plan is updated to reflect changes in process
and practice driven by the risk responses. This may include changes in tolerance or behavior related to
requirements, quality assurance, or quality control, as well as updates to the requirements documentation.
• Procurement management plan. The procurement management plan may be updated to reflect
changes in strategy, such as alterations in the make-or-buy decision or contract type(s) driven by the risk
responses.

• Human resource management plan. The staffing management plan, part of the human resource
management plan, is updated to reflect changes in project organizational structure and resource
applications driven by the risk responses. This may include changes in tolerance or behavior related to 11
staff allocation, as well as updates to the resource loading.

• Scope baseline. Because of new, modified or omitted work generated by the risk responses, the scope
baseline may be updated to reflect those changes.

• Schedule baseline. Because of new work (or omitted work) generated by the risk responses, the schedule
baseline may be updated to reflect those changes.
• cost baseline. Because of new work (or omitted work) generated by the risk responses, the cost baseline
may be updated to reflect those changes.

11.5.3.2 Project documents updates

In the Plan Risk Responses process, several project documents are updated as needed. For example, when
appropriate risk responses are chosen and agreed upon, they are included in the risk register. The risk register
should be written to a level of detail that corresponds with the priority ranking and the planned response. Often, the
high and moderate risks are addressed in detail. Risks judged to be of low priority are included in a watch list for
periodic monitoring. Updates to the risk register can include, but are not limited to:

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