Risk management is proactive decision making. The Risk Management process provides for an iterative means to plan, track, and react to risk. As a part of this process, you create a risk management plan to identify risks you might encounter on your project. When creating a risk management plan:
The Risk mitigation is what you do to ensure that the risk event does not happen. Risk response is what you do when it does happen. So the risk management plan is the whole response process.
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