Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:01,240 --> 00:00:03,420 Here are other elements commonly identified 2 2 00:00:03,420 --> 00:00:05,403 for each risk during risk planning. 3 3 00:00:06,840 --> 00:00:08,830 First the trigger. 4 4 00:00:08,830 --> 00:00:12,230 In risk management, this is not the cause, like it sounds, 5 5 00:00:12,230 --> 00:00:16,210 but rather the earliest warning sign the risk is happening. 6 6 00:00:16,210 --> 00:00:19,490 An indication you should take immediate action to avoid 7 7 00:00:19,490 --> 00:00:21,490 or mitigate the risk. 8 8 00:00:21,490 --> 00:00:24,293 Then you'll watch the trigger during project execution. 9 9 00:00:25,690 --> 00:00:27,870 Secondary risks. 10 10 00:00:27,870 --> 00:00:29,570 On larger projects in particular, 11 11 00:00:29,570 --> 00:00:32,800 you should give some thought to secondary risks, 12 12 00:00:32,800 --> 00:00:35,240 problems created by the risk solution 13 13 00:00:35,240 --> 00:00:37,360 by the response plan itself. 14 14 00:00:37,360 --> 00:00:40,040 For example, bonusing key personnel to keep them 15 15 00:00:40,040 --> 00:00:41,460 through the end of the project 16 16 00:00:41,460 --> 00:00:44,160 could cause dissatisfaction with the rest of the team. 17 17 00:00:45,420 --> 00:00:48,180 And third, a backup plan. 18 18 00:00:48,180 --> 00:00:50,890 This is the plan B; what you will do 19 19 00:00:50,890 --> 00:00:54,373 if the response plan fails and the risk happens anyway. 20 20 00:00:55,240 --> 00:00:57,500 For example, if you can't ensure the office building 21 21 00:00:57,500 --> 00:01:01,283 is ready in time, then you will rent temporary office space. 22 22 00:01:03,110 --> 00:01:05,400 You record all this data in the risk register, 23 23 00:01:05,400 --> 00:01:08,800 we'll cover next, or in a separate risk management plan 24 24 00:01:08,800 --> 00:01:10,133 on larger projects. 25 25 00:01:11,400 --> 00:01:15,330 And then, finally, redo the quantification step 26 26 00:01:15,330 --> 00:01:19,040 to reassess the residual risk remaining after the effects 27 27 00:01:19,040 --> 00:01:21,580 of the response planning, and baseline 28 28 00:01:21,580 --> 00:01:23,023 the final risk budget. 29 29 00:01:24,570 --> 00:01:27,540 You should be able to reduce some of the probabilities, 30 30 00:01:27,540 --> 00:01:30,193 time, and cost after response planning, 31 31 00:01:31,090 --> 00:01:33,290 but be realistic and make sure you keep 32 32 00:01:33,290 --> 00:01:35,413 as much reserve as you need. 2813