SAB7_H126_Contingency Types

SAB7_H126_Contingency Types

1. Residual Risk

   • These are the risks that reamin after Risk Response Planning

2. Secondary Risk

   • Risk response generates a new risk

3. Contingency Plan

   • Plans describing the specific actions that will be taken if the oportunity or threat occurs

4. Fallback Plans

   • Specific actions that will be taken if the contingency plan are not effective

5. Risk Owners

   • The Risk Owner take preapproved action determined in Project Planning

6. Risk Triggers

   • Events that trigger contingency response

7. Contracts

   • A Project Manager must be involved before a contract is signed

8. Reserves (Contingency)

   • Having Reserves for time & cost is a required part of PM
     • Contingency Reserves & Management Reserves