Editing Risk management (section)

===Project management===
{{Main|Project risk management}}
Project risk management must be considered at the different phases of acquisition. At the beginning of a project, the advancement of technical developments, or threats presented by a competitor's projects, may cause a risk or threat assessment and subsequent evaluation of alternatives (see [[Analysis of Alternatives]]). Once a decision is made, and the project begun, more familiar project management applications can be used:<ref>Lev Virine and Michael Trumper. ''Project Decisions: The Art and Science''. (2007). Management Concepts. Vienna. VA. {{ISBN|978-1-56726-217-9}}</ref><ref>Lev Virine and Michael Trumper. ''ProjectThink: Why Good Managers Make Poor Project Choices''. Gower Pub Co. {{ISBN|978-1409454984}}</ref><ref>Peter Simon and David Hillson, Practical Risk Management: The ATOM Methodology (2012). Management Concepts. Vienna, VA. {{ISBN|978-1567263664}}</ref>

* Planning how risk will be managed in the particular project. Plans should include risk management tasks, responsibilities, activities and budget.
* Assigning a risk officer – a team member other than a project manager who is responsible for foreseeing potential project problems.  Typical characteristic of risk officer is a healthy skepticism.
* Maintaining live project risk database.  Each risk should have the following attributes: opening date, title, short description, probability and importance.  Optionally a risk may have an assigned person responsible for its resolution and a date by which the risk must be resolved.
* Creating anonymous risk reporting channel.  Each team member should have the possibility to report risks that he/she foresees in the project.
* Preparing mitigation plans for risks that are chosen to be mitigated.  The purpose of the mitigation plan is to describe how this particular risk will be handled – what, when, by whom and how will it be done to avoid it or minimize consequences if it becomes a liability.
* Summarizing planned and faced risks, effectiveness of mitigation activities, and effort spent for the risk management.