managing risks

What is the Role of a Risk Management Plan?

A risk management plan is a detailed document that outlines the processes for identifying, assessing, and mitigating risks. It includes:
- Risk Identification: Listing all potential risks.
- Risk Assessment: Evaluating the impact and likelihood.
- Mitigation Strategies: Detailing the actions to manage each risk.
- Monitoring and Review: Continuously tracking risks and the effectiveness of the mitigation strategies.

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