In such cases, it is possible that they are not able to identify all the risks that might affect the project. Therefore, it is important to develop a plan based on the strategy established by experts and provided in this article. This helps project teams increase their efficiency (Turbit, 2011). The article continues with sections that detail each of the activities associated with risk management planning. The risk identification section provides several approaches that project managers can use in accordance with the type of project they are developing. The writer also provides different methods and techniques that can be used in this situation. This section also provides a classification of risks, and what their impact can be.

The risk quantification section is intended to provide project managers easy techniques that they can use in order to evaluate the identified risks. Based on this evaluation, managers can determine...

The article continues with the risk response section. Basically, the writer provides different strategies that can be used in managing project risks. These strategies are represented by avoiding, transferring, mitigating, and accepting the risk. The article explains the requirements of each strategy and the situations in which they are applicable.
The risk control section is another important issue addressed by the article. Readers have the opportunity of learning the importance of monitoring and controlling the risks they identify on their projects. The issues addressed in this article present great importance to project managers and their companies.

Reference list:

1. Turbit, N. (2011). Risk Management Basics. Project Perfect. Retrieved August 31, 2011 from http://www.projectperfect.com.au/info_risk_mgmt.php.