Lessons Learned summary of the Week 4

Chapter 7: Options and Actions (Response Planning)
The lesson learned from this chapter, option and action response planning is, the steps of response planning which ensures that appropriate actions are identified for each risk. I got to understand that threats are minimized and opportunities are maximized when these actions are implemented in the response planning. I learnt that there are certain activities that need to be undertaken in other to complete this step like updating the risk register, arranging interview with the risk owners, updating analysis outputs to reflect post response expectations.

Chapter 8: Spreading the Word (Reporting)
Reporting is to document the result of the assessment and communicate theses appropriately to project stakeholders in order to make them aware of the project’s current risk status and give the m the information they need to take effective action. this steps includes gathering all sources of information, perform any additional analysis, draft a full risk report, issue risk report to project sponsor, prepare and distribute extracts, subsets and additional reports as required.

Chapter 9: Just Do It (Implementation)
Implementation step is designed to make sure that what has been planned actually took place. Because if the action planned isn’t implemented, the opportunity won’t be maximized and threats will not be minimized and the exposure of the risk will not change. Activities like monitoring each response strategy, identify additional secondary risks etc. must be undertaken for proper implementation.

Appendix A: Template for Risk Management Plan
This appendix provides a template for risk management plan, where you will see the risk breakdown structure that is example risk