The Project Risk Management Processes include the following:
Risk Management Planning - Deciding how to approach , plan, and execute the risk management activities for a project
Risk Identification - Determining which risks might affect the project and documenting their characteristics.
Qualitative Risk Analysis - Prioritizing risks for subsequent further analysis or action by assessing and combining their probability of occurrence and impact
Quantitative Risk Analysis - Numerically analyzing the effect on overall project objectives of identified risks
Risk Response Planning - Developing options and actions to enhance opportunities , and to reduce threats to project objectives.
Risk Monitoring and Control - Tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans, and evaluating their effectiveness throughout the project life cycle.